USD/HKD Up 10 Pips Over Past Hour, Makes Big Move Relative to Past Three Months; Moves Down For the 2nd Day In A Row

Hourly Update

(Last Updated November 22, 2022 1:37 GMT)

At the time of this writing, USDHKD’s rate is up 10 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 183 pips (0.23%) since the previous day (opening today near 7.8031), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 27th in terms of percentage change since the previous day. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Coming into today USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.8401, 7.8458, 7.8468 and 7.8417 respectively, and thus may be at a key juncture along those timeframes. 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 370.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 14 days.