USD/HKD 4 Hour Price Update
Updated April 01, 2020 12:51 AM GMT (08:51 PM EST)
The choppiness in the recent four-hour candle price action of USD/HKD continues; to start the current 4 hour candle, it came in at a price of 7.7522, down 6 pips (0.01%) since the previous 4 hours. Out of the 40 instruments in the Forex asset class, USD/HKD ended up ranking 18th for the four-hour candle in terms of price change.
USD/HKD End of Day Recap
Updated 00:30 GMT (04:30 EST)
USD/HKD entered today at 7.7518, up 10 pips (0.01%) from the day prior. Out of the 40 instruments in the Forex asset class, USD/HKD ended up ranking 25th for the day in terms of price change. The price chart of USD/HKD below illustrates.
USD/HKD Technical Analysis
Coming into today USD/HKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Volatility for USD/HKD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 up 4 out of the past 10 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for USDHKD; just 0 sell signals and 2 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.