CADCHF Up 7 Pips Over Past Hour, 3 Day Up Streak Ended; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 8, 2021 12:15 GMT)

At the moment, CADCHF’s rate is up 7 pips (0.1%) from the hour prior. The hourly chart shows that CADCHF has seen 3 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 up days, CADCHF snaps its streak, falling 31 pips (-0.42%) over the past day to close at an exchange rate of 0.72706. Compared to its peers in the Forex, CADCHF gave its buyers a return that ranked 36th in terms of percentage change since the previous day. 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 50 day moving average 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 20 day average, which is 9.5 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 7 out of the past 14 days.