CAD/CHF Down 0 Pips in Last Hour, Came Into Today Up For the 8th Day In A Row; Crosses 20 Day Moving Average

Hourly Update

(Last Updated June 6, 2022 1:39 GMT)

Currently, CADCHF’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CADCHF has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CADCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

CADCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

CADCHF is up 14 pips (0.19%) since the previous day (opening today near 0.76305), marking the 8th day in a row an upward move has occurred. Compared to its peers in the Forex, CADCHF gave its buyers a return that ranked 16th in terms of percentage change since the previous day. Here is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: CADCHF crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 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 30 days CADCHF’s price has gone up 20 them.