CADCHF Up 1 Pips On Hourly Chart, Crosses 50 Day Moving Average; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 23, 2020 0:14 GMT)

At the time of this writing, CADCHF’s rate is up 1 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

The choppiness in the recent daily price action of CADCHF continues; to start today, it came in at a price of 0.68725, down 25 pips (0.36%) since yesterday. Out of the 40 instruments in the Forex asset class, CADCHF ended up ranking 26th for the day in terms of price change. Let’s take a look at price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Notably, CADCHF crossed below its 50 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 50 day average, which is 22.9 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days CADCHF’s price has gone down 8 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on CADCHF, with 5 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 0.62, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram