CADCHF Up 3 Pips On Hourly Chart, 3 Day Down Streak Broken; Breaks Above 200 Day Average

Hourly Update

(Last Updated November 17, 2020 2:16 GMT)

Currently, CADCHF’s rate is up 3 pips (0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CADCHF has now gone down 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)

A moment of silence, please, for the end of CADCHF’s 3 day down streak; price ended the day prior up 30 pips (0.42%) to finish the day at a rate of 0.69765. Compared to its peers in the Forex, CADCHF gave its buyers a return that ranked 10th in terms of percentage change since the day prior. Here is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

First things first: CADCHF crossed above its 200 day moving average 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 24.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days CADCHF’s price has gone down 16 them.