EUR/CAD Down 12 Pips Over Past Hour, Moves Down For the 3rd Consecutive Day; Crosses 20 Day Moving Average

Hourly Update

(Last Updated May 13, 2022 1:39 GMT)

At the time of this writing, EURCAD’s rate is down -12 pips (-0.09%) from the hour prior. This is the 2nd consecutive hour EURCAD has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend 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.

EURCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURCAD is down 128 pips (0.93%) since the previous day (opening today near 1.35312), marking the 3rd consecutive day a decrease has occurred. Compared to its peers in the Forex, EURCAD gave its buyers a return that ranked 27th in terms of percentage change since the previous day. Here is a price chart of EURCAD.

EURCAD

EURCAD Technical Analysis

Notably, EURCAD crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days EURCAD’s price has gone down 19 them.