CADCHF Down 1 Pips Over Past Hour, 2 Day Down Streak Snapped; Breaks Above 100 Day Average

Hourly Update

(Last Updated October 14, 2020 2:16 GMT)

Currently, CADCHF’s rate is down -1 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

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 0.69605, up 31 pips (0.45%) since yesterday. Out of the 40 instruments in the Forex asset class, CADCHF ended up ranking 5th for the day in terms of price change. The price chart of CADCHF below illustrates.

CADCHF

CADCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: CADCHF crossed above its 100 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 26 pips away. For additional context, note that price has gone down 17 out of the past 30 days.