CADCHF Down 5 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Crosses 50 and 200 Day Moving Averages

Hourly Update

(Last Updated September 17, 2021 1:15 GMT)

At the moment, CADCHF’s rate is down -5 pips (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CADCHF. Given that we see an uptrend 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 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)

The back and forth price flow continues for CADCHF, which started today off at 0.72841, up 35 pips 0.49% from the previous day. Out of the 39 instruments in the Forex asset class, CADCHF ended up ranking 2nd for the day in terms of price change. Below is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Notably, CADCHF crossed above 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 50 day average, which is 10.6 pips away. 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days CADCHF’s price has gone up 6 them.