CADCHF Up 2 Pips On Hourly Chart, Moves Down For the 4th Day In A Row; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated June 10, 2021 18:18 GMT)

At the moment, CADCHF’s rate is up 2 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 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. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

CADCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

CADCHF is down 9 pips (0.13%) since the day prior (opening today near 0.73947), marking the 4th day in a row a decline has happened. Compared to its peers in the Forex, CADCHF gave its buyers a return that ranked 27th in terms of percentage change since the day prior. The price chart of CADCHF below illustrates.

CADCHF

CADCHF Technical Analysis

Notably, CADCHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 down 7 them.