CADCHF Up 2 Pips in Last Hour, Tops All Forex; Crosses 20, 50 and 200 Day Moving Averages

Hourly Update

(Last Updated September 15, 2021 1:15 GMT)

At the moment, CADCHF’s rate is up 2 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 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)

CADCHF is up 50 pips (0.7%) since yesterday (opening today near 0.72917), marking the 2nd consecutive day an upward move has occurred. CADCHF outperformed all 39 assets in the Forex asset class yesterday. Below is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Notably, CADCHF crossed above its 20, 50 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 50 day average, which is 12.1 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Volatility for CADCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days CADCHF’s price has gone up 5 them.