(Last Updated March 26, 2021 23:15 GMT)
At the time of this writing, USDHKD’s rate is down -1 pips (0%) from the hour prior. USDHKD has seen its price go down 9 out of the past 10 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDHKD. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
USDHKD End of Day Recap
Updated 00:30 GMT (04:30 EST)
A moment of silence, please, for the end of USDHKD’s 3 day up streak; price ended the previous day down 2 pips (0%) to finish the day at a rate of 7.76878. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 30th in terms of percentage change since the previous day. Here is a price chart of 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 14 out of the past 30 days.