(Last Updated February 25, 2021 0:19 GMT)
At the moment, EURCAD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
EURCAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
EURCAD entered today at 1.52973, down 44 pips (0.29%) from yesterday. Relative to other instruments in the Forex asset class, EURCAD ranked 33rd yesterday in terms of percentage price change. The price chart of EURCAD below illustrates.
EURCAD Technical Analysis
The first thing we should note is that EURCAD is now close to its 20, 50, 100 and 200 day averages, located at 1.5386, 1.5479, 1.5495 and 1.5481 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 88.6 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 7 out of the past 14 days.