CADCHF Up 4 Pips On Hourly Chart, Moves Up For the 3rd Day In A Row; Eyes 20 and 50 Day Averages

Hourly Update

(Last Updated June 1, 2021 2:17 GMT)

Currently, CADCHF’s rate is up 4 pips (0.05%) 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. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. 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 5 pips (0.06%) since the day prior (opening today near 0.74497), marking the 3rd day in a row an increase has occurred. Compared to its peers in the Forex, CADCHF gave its buyers a return that ranked 17th in terms of percentage change since the day prior. Here is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

The first thing we should note is that CADCHF is now close to its 20, 50 and 100 day averages, located at 0.7445, 0.7416 and 0.7279 respectively, and thus may be at a key juncture along those timeframes. Volatility for CADCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days CADCHF’s price has gone up 8 them.