CADCHF Up 3 Pips On Hourly Chart, Moves Up For the 2nd Straight Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated September 6, 2021 23:15 GMT)

Currently, CADCHF’s rate is up 3 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend 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 downtrend on the 10 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 12 pips (0.17%) since the day prior (opening today near 0.72971), marking the 2nd straight day an upward move has occurred. Compared to its peers in the Forex, CADCHF gave its buyers a return that ranked 13th in terms of percentage change since the day prior. Let’s take a look at price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Notably, CADCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.7267, 0.7302, 0.736 and 0.7246 respectively, and thus may be at a key juncture along those timeframes. 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 50 day average, which is 5 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days CADCHF’s price has gone down 8 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!