(Last Updated July 28, 2021 9:16 GMT)
At the moment, EURCAD’s rate is up 7 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 9 pips (0.06%) since yesterday (opening today near 1.48048), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, EURCAD gave its buyers a return that ranked 17th in terms of percentage change since yesterday. Here is a price chart of EURCAD.
EURCAD Technical Analysis
Coming into today EURCAD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 10.8 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EURCAD’s price has gone up 15 them.