EURCAD Down 2 Pips On Hourly Chart, Entered Today Up For the 3rd Consecutive Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated June 9, 2021 20:18 GMT)

At the moment, EURCAD’s rate is down -2 pips (-0.02%) from the hour prior. The hourly chart shows that EURCAD has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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.

EURCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURCAD is up 10 pips (0.07%) since the day prior (opening today near 1.47444), marking the 3rd consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, EURCAD ended up ranking 12th for the day in terms of price change. Below is a price chart of EURCAD.

EURCAD

EURCAD Technical Analysis

The first thing we should note is that EURCAD is now close to its 20, 50 and 100 day averages, located at 1.4722, 1.4827 and 1.5014 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EURCAD’s price has gone up 6 them.