(Last Updated June 30, 2021 3:17 GMT)
At the time of this writing, CADCHF’s rate is down -3 pips (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CADCHF. Given that we see downtrend 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 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)
CADCHF is down 26 pips (0.35%) since the day prior (opening today near 0.74283), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, CADCHF ranked 30th the day prior in terms of percentage price change. Below is a price chart of CADCHF.
CADCHF Technical Analysis
Coming into today CADCHF is now close to its 20, 50 and 100 day averages, located at 0.7427, 0.7425 and 0.7369 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 30 day period 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 14 days CADCHF’s price has gone up 8 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on CADCHF, with 7 buy signals on our radar and 0 sell signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.