EUR/CAD Up 4 Pips Over Past 4 Hours, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

EUR/CAD 4 Hour Price Update

Updated July 30, 2020 01:07 AM GMT (09:07 PM EST)

The choppiness in the recent four-hour candle price action of EUR/CAD continues; to start the current 4 hour candle, it came in at a price of 1.572, up 4 pips (0.03%) since the last 4 hour candle. Out of the 37 instruments in the Forex asset class, EUR/CAD ended up ranking 9th for the four-hour candle in terms of price change.

EUR/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of EUR/CAD continues; to start today, it came in at a price of 1.57212, down 3 pips (0.02%) since the day prior. Out of the 40 instruments in the Forex asset class, EUR/CAD ended up ranking 24th for the day in terms of price change. Let’s take a look at price chart of EUR/CAD.

EUR/CAD

EUR/CAD Technical Analysis

Coming into today the current price of EUR/CAD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days EUR/CAD’s price has gone up 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURCAD, with 1 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.25, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

As we clearly see EURCAD has been in a bullish trend for a Few months and we vividly come across a Cup and Handle formation which illustrates confirmation for further buys on EURCAD.It has happened recently on EURUSD on The D1 timeframe which proves a slow strong growth for the EURO.