USD/HKD Up 6 Pips Over Past Hour, Entered Today Down For the 3rd Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 24, 2021 1:43 GMT)

At the moment, USDHKD’s rate is up 6 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. 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 5 pips (0.01%) since yesterday (opening today near 7.78515), marking the 3rd consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, USDHKD ranked 21st yesterday in terms of percentage price change. The price chart of USDHKD below illustrates.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 15 out of the past 30 days.