(Last Updated January 7, 2022 1:36 GMT)
At the moment, USDHKD’s rate is up 4 pips (0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Of note is that the 200 hour changed directions on USDHKD; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
USDHKD End of Day Recap
Updated 00:30 GMT (04:30 EST)
USDHKD is up 54 pips (0.07%) since the day prior (opening today near 7.80072), marking the 2nd straight day an increase has occurred. Relative to other instruments in the Forex asset class, USDHKD ranked 16th the day prior in terms of percentage price change. Below is a price chart of USDHKD.
USDHKD Technical Analysis
Notably, USDHKD crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone down 7 them.