CADCHF Down 1 Pips in Last Hour, 3 Day Down Streak Broken; is Inching Close to 20 Day Average

Hourly Update

(Last Updated February 15, 2021 23:17 GMT)

Currently, CADCHF’s rate is down -1 pips (-0.02%) from the hour prior. This is the 3rd consecutive hour CADCHF has seen its price head down. 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 pin bar candlestick pattern on CADCHF. Given that we see an uptrend 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)

A moment of silence, please, for the end of CADCHF’s 3 day down streak; price ended the previous day up 22 pips (0.31%) to finish the day at a rate of 0.70275. Relative to other instruments in the Forex asset class, CADCHF ranked 6th the previous day in terms of percentage price change. Here is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Notably, the current price of CADCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 up 16 them.