EUR/CAD Up 3 Pips in Last Hour, Crosses 50 Day Moving Average; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated September 13, 2022 1:40 GMT)

Currently, EURCAD’s rate is up 3 pips (0.02%) from the hour prior. This is the 2nd straight hour EURCAD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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)

The back and forth price flow continues for EURCAD, which started today off at 1.3144, up 68 pips 0.52% from the day prior. Compared to its peers in the Forex, EURCAD gave its buyers a return that ranked 11th in terms of percentage change since the day prior. The price chart of EURCAD below illustrates.

EURCAD

EURCAD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURCAD crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 19 out of the past 30 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

Not much in terms quality buy/sell signals we’re seeing for EURCAD; just 2 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hi Trader’s We Have New Trade On EURCAD ,, Let’s Explain The Reasons ,,- Trend Line Break Out- Golden Zone- Gann Level Break Out Buy After Close Daily Candle Above The Trend Line Target On Chart