EUR/CAD Up 7 Pips in Last 4 Hours, Entered Today Up For the 3rd Day In A Row; Eyes 20 and 50 Day Averages

EUR/CAD 4 Hour Price Update

Updated May 21, 2020 12:44 AM GMT (08:44 PM EST)

EUR/CAD is up 7 pips (0.05%) since the last 4 hour candle (opening the current 4 hour candle near 1.5268), marking the 3rd candle in a row an increase has occurred. Compared to its peers in the Forex, EUR/CAD gave its buyers a return that ranked 10th in terms of percentage change since the last 4 hour candle.

EUR/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/CAD is up 8 pips (0.05%) since yesterday (opening today near 1.52677), marking the 3rd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, EUR/CAD ended up ranking 17th for the day in terms of price change. Let’s take a look at 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 1.5239, 1.5293 and 1.5073 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 50 day average, which is 25.4 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EUR/CAD’s price has gone up 8 them. 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 13 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 2.17, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.