(Last Updated November 18, 2020 2:16 GMT)
At the moment, CADCHF’s rate is down -4 pips (-0.06%) from the hour prior. CADCHF has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend 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 entered today at 0.69505, down 26 pips (0.37%) from the previous day. Out of the 40 instruments in the Forex asset class, CADCHF ended up ranking 32nd for the day in terms of price change. Here is a price chart of CADCHF.
CADCHF Technical Analysis
The first thing we should note is that the current price of CADCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 0.8 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Or to simplify this another way, note that out of the past 14 days CADCHF’s price has gone up 7 them.