EUR/CAD Down 1 Pips On Hourly Chart, Makes Big Move Relative to Past Two Months; Came Into Today Up For the 4th Straight Day

Hourly Update

(Last Updated July 20, 2021 2:10 GMT)

At the time of this writing, EURCAD’s rate is down -1 pips (-0.01%) from the hour prior. EURCAD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend 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. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration. 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)

EURCAD is up 146 pips (0.98%) since the day prior (opening today near 1.50326), marking the 4th straight day an increase has occurred. Compared to its peers in the Forex, EURCAD gave its buyers a return that ranked 5th in terms of percentage change since the day prior. Here is a price chart of EURCAD.

EURCAD

EURCAD Technical Analysis

Notably, EURCAD is now close to its 20, 50, 100 and 200 day averages, located at 1.4756, 1.4738, 1.4832 and 1.5157 respectively, and thus may be at a key juncture along those timeframes. 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 124.9 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 6 out of the past 10 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURCAD; just 3 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.