USDHKD Down 2 Pips in Last Hour, Entered Today Down For the 4th Consecutive Day; Breaks Below 200 Day Average

Hourly Update

(Last Updated June 7, 2021 3:14 GMT)

At the time of this writing, USDHKD’s rate is down 2 pips (0%) from the hour prior. USDHKD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDHKD is down 14 pips (0.02%) since yesterday (opening today near 7.75659), marking the 4th consecutive day it has gone down. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 21st for the day in terms of price change. The price chart of USDHKD below illustrates.

USDHKD

USDHKD Technical Analysis

First things first: USDHKD crossed below its 200 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 0.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone down 8 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!