CADCHF Down 2 Pips On Hourly Chart, Came Into Today Down For the 2nd Day In A Row; Social Sentiment Biased Towards Selling

Hourly Update

(Last Updated May 28, 2021 1:17 GMT)

At the moment, CADCHF’s rate is down -2 pips (-0.03%) from the hour prior. CADCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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)

CADCHF is down 23 pips (0.31%) since the day prior (opening today near 0.74001), marking the 2nd day in a row it has gone down. Relative to other instruments in the Forex asset class, CADCHF ranked 31st the day prior in terms of percentage price change. Here is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: CADCHF crossed below its 50 day moving average yesterday. 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 up. For additional context, note that price has gone up 17 out of the past 30 days.