EUR/CAD Up 6 Pips in Last Hour; Eyes 20 Day Average

Hourly Update

(Last Updated November 23, 2021 1:39 GMT)

At the time of this writing, EURCAD’s rate is up 6 pips (0.04%) from the hour prior. This is the 2nd consecutive hour EURCAD has seen its price head up. 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 entered today at 1.42793, up 22 pips (0.15%) from the day prior. Compared to its peers in the Forex, EURCAD gave its buyers a return that ranked 19th in terms of percentage change since the day prior. Let’s take a look at price chart of EURCAD.

EURCAD

EURCAD Technical Analysis

The first thing we should note is that EURCAD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days EURCAD’s price has gone up 5 them.