CAD/CHF Down 2 Pips in Last Hour, Moves Up For the 2nd Straight Day; Breaks Above 100 Day Average

Hourly Update

(Last Updated June 22, 2022 1:39 GMT)

Currently, CADCHF’s rate is down -2 pips (-0.03%) 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 100 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 5 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 25 pips (0.34%) since the previous day (opening today near 0.747), marking the 2nd straight day it has gone up. Compared to its peers in the Forex, CADCHF gave its buyers a return that ranked 11th in terms of percentage change since the previous day. Below is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

First things first: CADCHF crossed above its 100 day moving average yesterday. 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. Or to simplify this another way, note that out of the past 14 days CADCHF’s price has gone up 10 them.