EUR/CAD Up 9 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated July 13, 2022 1:38 GMT)

Currently, EURCAD’s rate is up 9 pips (0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend 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)

The back and forth price flow continues for EURCAD, which started today off at 1.3068, up 10 pips 0.08% from yesterday. Compared to its peers in the Forex, EURCAD gave its buyers a return that ranked 12th in terms of percentage change since yesterday. The price chart of EURCAD below illustrates.

EURCAD

EURCAD Technical Analysis

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 14 days EURCAD’s price has gone down 9 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

Not much in terms quality buy/sell signals we’re seeing for EURCAD; just 3 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hi guys its kamywe have EURCAD chart hitted the support lineits weekly chart so we should get our confirmation with multi-timeframe the chart Wish u Profits.tell me your idea in comments