USD/HKD Up 10 Pips Over Past Hour, Moves Down For the 2nd Consecutive Day; is Inching Close to 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated January 14, 2022 1:38 GMT)

At the time of this writing, USDHKD’s rate is up 10 pips (0.01%) from the hour prior. USDHKD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend 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 20 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 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 36 pips (0.05%) since the day prior (opening today near 7.78802), marking the 2nd consecutive day a decline has happened. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 19th in terms of percentage change since the day prior. Here is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Coming into today the current price of USDHKD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 and 30 day timeframes. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone down 15 them.