USD/HKD Down 2 Pips On 4 Hour Chart, Eyes 20, 50, 100 and 200 Day Averages; Pin Bar Pattern Appearing on Chart

USD/HKD 4 Hour Price Update

Updated July 23, 2020 09:24 AM GMT (05:24 AM EST)

USD/HKD is down 2 pips (0%) since the last 4 hour candle (opening the current 4 hour candle near 7.7515), marking NA NA NA. Compared to its peers in the Forex, USD/HKD gave its buyers a return that ranked 18th in terms of percentage change since the last 4 hour candle.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/HKD entered today at 7.75196, down 4 pips (0%) from yesterday. Relative to other instruments in the Forex asset class, USD/HKD ranked 28th yesterday in terms of percentage price change. The price chart of USD/HKD below illustrates.

USD/HKD Technical Analysis

Notably, USD/HKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7513, 7.7508, 7.7512 and 7.7644 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 20 day average, which is 6.4 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days USD/HKD’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.