CADCHF Up 5 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Sentiment Suggests Buyers in Charge

Hourly Update

(Last Updated April 28, 2021 2:16 GMT)

At the moment, CADCHF’s rate is up 5 pips (0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

CADCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

CADCHF entered today at 0.73671, down 11 pips (0.15%) from the previous day. Out of the 39 instruments in the Forex asset class, CADCHF ended up ranking 28th for the day in terms of price change. The price chart of CADCHF below illustrates.

CADCHF

CADCHF Technical Analysis

Notably, CADCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. For additional context, note that price has gone up 7 out of the past 14 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on CADCHF, with 12 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 12, which is very bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Follow the trend on the CADCHF for short term buy. Good luck.