If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
This move is a reversal from the hour prior, which saw price move up.
This is a reversal of the price action on the previous hour, in which price moved down.
Relative to other instruments in the forex asset class, usdcad ranked 35th the previous day in terms of percentage price change.
Compared to its peers in the forex, usdcad gave its buyers a return that ranked 4th in terms of percentage change since the day prior.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
The closest is the 20 day average, which is 7.5 pips away.
Relative to other instruments in the forex asset class, usdcad ranked 4th the day prior in terms of percentage price change.