EUR/CAD Down 2 Pips in Last Hour, Moves Up For the 3rd Straight Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 19, 2022 1:38 GMT)

At the moment, EURCAD’s rate is down -2 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 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 up 19 pips (0.14%) since the previous day (opening today near 1.3164), marking the 3rd straight day it has gone up. Compared to its peers in the Forex, EURCAD gave its buyers a return that ranked 20th in terms of percentage change since the previous day. Below is a price chart of EURCAD.

EURCAD

EURCAD Technical Analysis

Notably, the current price of EURCAD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days EURCAD’s price has gone up 5 them.