CADCHF Down 1 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; Crosses 100 Day Moving Average

Hourly Update

(Last Updated October 9, 2020 2:16 GMT)

Currently, CADCHF’s rate is down -1 pips (-0.01%) 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. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

CADCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

CADCHF is up 29 pips (0.42%) since yesterday (opening today near 0.6948), marking the 2nd consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, CADCHF ranked 5th yesterday in terms of percentage price change. Below is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: CADCHF crossed above its 100 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 100 day average, which is 12.9 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Or to simplify this another way, note that out of the past 10 days CADCHF’s price has gone down 6 them.