CADCHF Down 3 Pips Over Past Hour, 3 Day Down Streak Broken; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 11, 2021 3:15 GMT)

Currently, CADCHF’s rate is down -3 pips (-0.04%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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)

After 3 down days, CADCHF snaps its streak, rising 18 pips (0.24%) over the past day to close at an exchange rate of 0.73387. Out of the 39 instruments in the Forex asset class, CADCHF ended up ranking 14th for the day in terms of price change. Here is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Notably, CADCHF crossed above its 100 and 200 day moving averages 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 200 day average, which is 0.7 pips away. 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days CADCHF’s price has gone down 7 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on CADCHF, with 4 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Broke the treadline, and am expecting it to long to 0.74547