CADCHF Up 4 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; 3 Day Up Streak Snapped

Hourly Update

(Last Updated June 2, 2021 2:17 GMT)

At the moment, CADCHF’s rate is up 4 pips (0.05%) from the hour prior. The hourly chart shows that CADCHF has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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)

CADCHF, which opened today priced near 0.7431, is down 19 pips 0.25% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Relative to other instruments in the Forex asset class, CADCHF ranked 28th the previous day in terms of percentage price change. Let’s take a look at price chart of CADCHF.


CADCHF Technical Analysis

First things first: CADCHF crossed below its 20 day moving average yesterday. Volatility for CADCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For additional context, note that price has gone up 5 out of the past 10 days.