USD/HKD Up 4 Pips On 4 Hour Chart, is Inching Close to 20, 50 and 100 Day Averages; Doji Pattern Appearing on Chart

USD/HKD 4 Hour Price Update

Updated April 06, 2020 11:26 AM GMT (07:26 AM EST)

The back and forth price flow continues for USD/HKD, which started the current 4 hour candle off at 7.7535, up 4 pips 0.01% from the last 4 hour candle. Out of the 40 instruments in the Forex asset class, USD/HKD ended up ranking 22nd 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 7.7523, up 9 pips (0.01%) from yesterday. Out of the 40 instruments in the Forex asset class, USD/HKD ended up ranking 20th for the day in terms of price change. The price chart of USD/HKD below illustrates.

USD/HKD Technical Analysis

The first thing we should note is that 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. Or to simplify this another way, note that out of the past 10 days USD/HKD’s price has gone up 4 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.