USDHKD Down 0 Pips in Last Hour, in a Downtrend Over Past 14 Days; Eyes 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated June 10, 2021 7:15 GMT)

At the moment, USDHKD’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 9 of the past 10 hours. 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 choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDHKD entered today at 7.75977, up 5 pips (0.01%) from the previous day. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 19th in terms of percentage change since the previous day. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that USDHKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 20 day average, which is 22.3 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 13 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!