CADCHF Down 9 Pips Over Past Hour, 2 Day Down Streak Ended; Breaks Above 20 Day Average

Hourly Update

(Last Updated October 19, 2020 10:16 GMT)

At the time of this writing, CADCHF’s rate is down -9 pips (-0.13%) from the hour prior. The hourly chart shows that CADCHF has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 200 hour moving averages have been crossed, with price now being below them. 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 0.69315, up 20 pips (0.28%) since the previous day. Relative to other instruments in the Forex asset class, CADCHF ranked 3rd the previous day in terms of percentage price change. Here is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Notably, CADCHF crossed above its 20 day moving average yesterday. 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 100 day average, which is 0.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days CADCHF’s price has gone down 18 them.