USD/HKD Down 1 Pips Over Past 4 Hours, Came Into Today Up For the 3rd Day In A Row; in a Downtrend Over Past 14 Days

USD/HKD 4 Hour Price Update

Updated March 31, 2020 01:04 PM GMT (09:04 AM EST)

USD/HKD entered the current 4 hour candle at 7.7531, down 1 pips (0%) from the previous 4 hours. Relative to other instruments in the Forex asset class, USD/HKD ranked 17th the previous 4 hours in terms of percentage price change.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/HKD is up 4 pips (0.01%) since the previous day (opening today near 7.7547), marking the 3rd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, USD/HKD ranked 26th the previous day in terms of percentage price change. Let’s take a look at price chart of USD/HKD.

USD/HKD Technical Analysis

Notably, USD/HKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7599, 7.7687, 7.7762 and 7.8062 respectively, and thus may be at a key juncture along those timeframes. Volatility for USD/HKD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 4 out of the past 10 days. Also, candlestick traders! Note we see doji pattern appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDHKD; just 0 sell signals and 2 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.