(Last Updated November 19, 2021 1:40 GMT)
At the moment, CADCHF’s rate is up 1 pips (0.01%) from the hour prior. CADCHF has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 down 20 pips (0.27%) since yesterday (opening today near 0.73438), marking the 2nd consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, CADCHF ranked 33rd yesterday in terms of percentage price change. The price chart of CADCHF below illustrates.
CADCHF Technical Analysis
Notably, CADCHF crossed below its 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 200 day average, which is 7.1 pips away. Trend traders will want to observe that the strongest trend appears on the 30 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. For additional context, note that price has gone up 5 out of the past 10 days.