(Last Updated November 15, 2021 1:36 GMT)
Currently, CADCHF’s rate is up 7 pips (0.09%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 back and forth price flow continues for CADCHF, which started today off at 0.7335, up 18 pips 0.25% from the previous day. Out of the 39 instruments in the Forex asset class, CADCHF ended up ranking 9th for the day in terms of price change. The price chart of CADCHF below illustrates.
CADCHF Technical Analysis
Notably, 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 8.1 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone down 6 out of the past 10 days.