CAD/CHF Down 0 Pips On Hourly Chart, Entered Today Up For the 3rd Straight Day; Eyes 20 Day Average

Hourly Update

(Last Updated November 17, 2021 1:45 GMT)

At the time of this writing, CADCHF’s rate is down 0 pips (0%) from the hour prior. CADCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar 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 10 pips (0.14%) since the previous day (opening today near 0.74049), marking the 3rd straight day an upward move has occurred. Relative to other instruments in the Forex asset class, CADCHF ranked 20th the previous day in terms of percentage price change. Below is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Notably, CADCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 28.4 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days CADCHF’s price has gone down 16 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for CADCHF; just 0 sell signals and 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

after consolidation box breakout, technical target is 0.74465, FURTHER upside is also expected after making a HH.