EUR/CAD Down 2 Pips Over Past Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 12, 2022 1:39 GMT)

At the time of this writing, EURCAD’s rate is down -2 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURCAD has now gone down 8 of the past 10 hours. 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)

The choppiness in the recent daily price action of EURCAD continues; to start today, it came in at a price of 1.3058, down 120 pips (0.91%) since the day prior. Out of the 39 instruments in the Forex asset class, EURCAD ended up ranking 32nd for the day in terms of price change. Let’s take a look at price chart of EURCAD.

EURCAD

EURCAD Technical Analysis

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. For additional context, note that price has gone down 9 out of the past 14 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 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

This Is An Educational + Analytic Content That Will Teach Why And How To Enter A TradeMake Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our MethodDisclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.