(Last Updated June 9, 2021 20:17 GMT)
At the time of this writing, CADCHF’s rate is up 1 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 downtrend on the 10 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
CADCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
CADCHF is down 23 pips (0.3%) since the previous day (opening today near 0.7404), marking the 3rd day in a row a decline has happened. Out of the 39 instruments in the Forex asset class, CADCHF ended up ranking 34th for the day in terms of price change. Let’s take a look at price chart of CADCHF.
CADCHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: CADCHF crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 and 30 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days CADCHF’s price has gone up 18 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on CADCHF, with 2 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 0.33, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Lets see if cadchf can push up:)