USD/HKD Moves Down For the 3rd Day In A Row; is Inching Close to 20, 50 and 100 Day Averages

USD/HKD Price Recap

USD/HKD is down 48 pips (0.06%) since yesterday (with its current price near 7.7607), marking the 3rd day in a row it has gone down. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 24.63% from the day before — and down 42.46% from the same day the week before. Relative to other instruments in the Forex asset class, USD/HKD ranked 20th yesterday in terms of percentage price change. The price chart of USD/HKD below illustrates.

USD/HKD Technical Analysis

Notably, USD/HKD 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 50 day average, which is 113.4 pips away. In addition to the moving average crossover, USD/HKD may have broken its trend on the 90 day basis, as the trend’s momentum appears to be slowing down. For additional context, note that price has gone down 14 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDHKD; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

$USDHKD: Sell Stop (Pending Order) below 7.76604TP1= 7.76085SL = 7.77124