EUR/CAD Down 13 Pips Over Past 4 Hours, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

EUR/CAD 4 Hour Price Update

Updated July 21, 2020 09:07 AM GMT (05:07 AM EST)

EUR/CAD is down 13 pips (0.08%) since the last 4 hour candle (opening the current 4 hour candle near 1.5453), marking the 2nd candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EUR/CAD ranked 28th the last 4 hour candle in terms of percentage price change.

EUR/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/CAD is down 1 pips (0.01%) since yesterday (opening today near 1.54918), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, EUR/CAD gave its buyers a return that ranked 31st in terms of percentage change since yesterday. Below is a price chart of EUR/CAD.

EUR/CAD Technical Analysis

Notably, EUR/CAD is now close to its 20, 50 and 100 day averages, located at 1.5371, 1.5294 and 1.529 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCAD, with 9 buy signals on our radar and 21 sell signals. This imputes a buy/sell ratio of 0.43, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Good Day Traders! RSI Bearish Divergence in 4H TF. Short this pair once there is a break below the trendline If you like this analysis, please support me with your likes and comments to grow this channel. Thank you!