CADCHF Up 6 Pips On Hourly Chart, 2 Day Up Streak Ended; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 12, 2020 22:16 GMT)

At the moment, CADCHF’s rate is up 6 pips (0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)

The choppiness in the recent daily price action of CADCHF continues; to start today, it came in at a price of 0.7017, down 2 pips (0.04%) since the day prior. Out of the 40 instruments in the Forex asset class, CADCHF ended up ranking 22nd for the day in terms of price change. Here is a price chart of CADCHF.

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 59.6 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 up. For additional context, note that price has gone up 7 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!