USD/HKD Down 1 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 30 Days – CFD Trading

Hourly Update

(Last Updated July 20, 2021 2:7 GMT)

At the moment, USDHKD’s rate is down -1 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 10 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USDHKD, which started today off at 7.7709, up 33 pips 0.04% from yesterday. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 18th for the day in terms of price change. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.766, 7.7639, 7.7655 and 7.7589 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 49.4 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USDHKD’s price has gone up 3 them. Also, candlestick traders! Note we see doji pattern appearing here as well.

Leave a Reply

Your email address will not be published. Required fields are marked *