CADCHF Up 1 Pips Over Past Hour, Moves Up For the 2nd Day In A Row; Nears 20 and 200 Day Moving Averages

Hourly Update

(Last Updated November 20, 2020 2:16 GMT)

At the moment, CADCHF’s rate is up 1 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 up 1 pips (0.01%) since the day prior (opening today near 0.6964), marking the 2nd day in a row an increase has occurred. Out of the 40 instruments in the Forex asset class, CADCHF ended up ranking 14th for the day in terms of price change. Below is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

The first thing we should note is that 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. 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 200 day average, which is 18.5 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Or to simplify this another way, note that out of the past 10 days CADCHF’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!