USD/HKD Up 5 Pips in Last Hour, in an Uptrend Over Past 14 Days; is Inching Close to 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated November 16, 2021 1:43 GMT)

At the moment, USDHKD’s rate is up 5 pips (0.01%) from the hour prior. The hourly chart shows that USDHKD has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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 down 4 pips (0.01%) since yesterday (opening today near 7.78868), marking the 2nd day in a row it has gone down. Relative to other instruments in the Forex asset class, USDHKD ranked 20th yesterday in terms of percentage price change. The price chart of USDHKD below illustrates.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7817, 7.782, 7.779 and 7.7713 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 50 day average, which is 67 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days USDHKD’s price has gone up 5 them.