USD/HKD Up 7 Pips in Last Hour, Entered Today Down For the 3rd Day In A Row; Eyes 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated November 17, 2021 1:43 GMT)

Currently, USDHKD’s rate is up 7 pips (0.01%) from the hour prior. USDHKD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. 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 20 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 down 18 pips (0.02%) since the previous day (opening today near 7.78685), marking the 3rd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, USDHKD ranked 26th the previous day in terms of percentage price change. The price chart of USDHKD below illustrates.

USDHKD

USDHKD Technical Analysis

Coming into today USDHKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 30 days USDHKD’s price has gone up 15 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!