EUR/CAD Down 0 Pips Over Past Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 15, 2022 1:41 GMT)

At the moment, EURCAD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURCAD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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.

EURCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EURCAD, which started today off at 1.314, up 90 pips 0.69% from the previous day. Out of the 39 instruments in the Forex asset class, EURCAD ended up ranking 13th for the day in terms of price change. Below is a price chart of EURCAD.

EURCAD

EURCAD Technical Analysis

Coming into today EURCAD is now close to its 20 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 18 out of the past 30 days.