(Last Updated June 7, 2022 1:40 GMT)
Currently, CADCHF’s rate is up 1 pips (0.02%) from the hour prior. This is the 2nd straight hour CADCHF has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on CADCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 90 pips (1.18%) since the previous day (opening today near 0.77208), marking the 9th consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, CADCHF ended up ranking 5th for the day in terms of price change. Here is a price chart of CADCHF.
CADCHF Technical Analysis
Notably, the current price of CADCHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. 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 10 out of the past 14 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for CADCHF; just 2 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
CAD/CHF: H4 Swing has more room to run >Upward trend confirmed after pullback> High Volume Node below current price> Low Volume on the way to TP> generell CAD-strengthJoin our next LIVE stream on the topic “Creating your own trading strategy”: https://www.tradingview.com/streams/pTdihlZnyc/