(Last Updated September 22, 2022 1:38 GMT)
At the time of this writing, EURCAD’s rate is down -4 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 entered today at 1.3243, down 79 pips (0.59%) from the day prior. Out of the 39 instruments in the Forex asset class, EURCAD ended up ranking 26th for the day in terms of price change. Here is a price chart of EURCAD.
EURCAD Technical Analysis
First things first: EURCAD crossed below its 100 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 64.9 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days EURCAD’s price has gone down 17 them.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for EURCAD; just 3 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a moving average technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
https://www.tradingview.com/x/kCb9qDzj/ My Dear Friends ,Here is my todays forecast on EUR/CAD BIAS: BearishENTRY: 1.32636TARGET: 1.28016——————————— WISH YOU ALL LUCK