CAD/CHF Down 11 Pips On Hourly Chart, 2 Day Up Streak Snapped; Breaks Below 100 Day Average

Hourly Update

(Last Updated June 23, 2022 1:38 GMT)

At the time of this writing, CADCHF’s rate is down -11 pips (-0.15%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CADCHF has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 20 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 entered today at 0.74193, down 51 pips (0.68%) from the previous day. Out of the 39 instruments in the Forex asset class, CADCHF ended up ranking 32nd for the day in terms of price change. Below is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: CADCHF crossed below its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days CADCHF’s price has gone up 20 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for CADCHF; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

#CADCHF Daily My Last setup for CADCHF is still valid we are ready o enter in Sell for CADCHF