Price action traders may also wish to note that we see a doji candlestick pattern on cadchf.
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.
This imputes a buy/sell ratio of 1, which is neutral.
It’s been a feast for bears operating on an hourly timeframe, as cadchf has now gone down 4 of the past 5 hours.
Bulls may note that this suggests a buy/sell ratio that is infinite.
This is the 2nd straight hour cadchf has seen its price head down.
This is the 3rd hour in a row cadchf has seen its price head down.
Compared to its peers in the forex, cadchf gave its buyers a return that ranked 30th in terms of percentage change since the previous day.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Or to simplify this another way, note that out of the past 30 days cadchf’s price has gone up 16 them.