(Last Updated October 22, 2021 23:15 GMT)
Currently, CADCHF’s rate is down -2 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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)
CADCHF is up 6 pips (0.08%) since the previous day (opening today near 0.74683), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, CADCHF gave its buyers a return that ranked 21st in terms of percentage change since the previous day. Let’s take a look at price chart of CADCHF.
CADCHF Technical Analysis
Coming into today CADCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 20 day average, which is 86.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.