CADCHF Down 7 Pips in Last Hour, 2 Day Up Streak Broken; Breaks Below 20 Day Average

Hourly Update

(Last Updated June 7, 2021 3:17 GMT)

Currently, CADCHF’s rate is down -7 pips (-0.09%) from the hour prior. The hourly chart shows that CADCHF has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, with price now being below it. 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.

CADCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of CADCHF continues; to start today, it came in at a price of 0.74408, down 23 pips (0.3%) since the day prior. Out of the 39 instruments in the Forex asset class, CADCHF ended up ranking 28th for the day in terms of price change. The price chart of CADCHF below illustrates.

CADCHF

CADCHF Technical Analysis

First things first: CADCHF crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days CADCHF’s price has gone up 7 them.