EURCAD Up 6 Pips On Hourly Chart; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated May 14, 2021 0:19 GMT)

At the time of this writing, EURCAD’s rate is up 6 pips (0.04%) from the hour prior. The hourly chart shows that EURCAD has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 20 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)

The back and forth price flow continues for EURCAD, which started today off at 1.46394, down 51 pips 0.35% from the day prior. Compared to its peers in the Forex, EURCAD gave its buyers a return that ranked 28th in terms of percentage change since the day prior. Let’s take a look at price chart of EURCAD.

EURCAD

EURCAD Technical Analysis

Coming into today EURCAD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 7 out of the past 10 days.