Price action traders may also wish to note that we see a doji candlestick pattern on audcad.
Price action traders may also wish to note that we see a pin bar candlestick pattern on audcad.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
Relative to other instruments in the forex asset class, audcad ranked 10th yesterday in terms of percentage price change.
The closest is the 50 day average, which is 53 pips away.
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
Compared to its peers in the forex, audcad gave its buyers a return that ranked 8th in terms of percentage change since yesterday.
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.
Volatility for audcad has been contracting over the past two weeks relative to volatility over the past month.