USD/CAD Up 7 Pips On 4 Hour Chart, Came Into Today Down For the 3rd Day In A Row; in an Uptrend Over Past 30 Days

USD/CAD 4 Hour Price Update

Updated March 26, 2020 05:10 AM GMT (01:10 AM EST)

USD/CAD is up 7 pips (0.05%) since the last 4 hour candle (opening the current 4 hour candle near 1.4231), marking the 2nd candle in a row it has gone up. Relative to other instruments in the Forex asset class, USD/CAD ranked 24th the last 4 hour candle in terms of percentage price change.

USD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/CAD is down 214 pips (1.48%) since yesterday (opening today near 1.4222), marking the 3rd day in a row it has gone down. Compared to its peers in the Forex, USD/CAD gave its buyers a return that ranked 34th in terms of percentage change since yesterday. Let’s take a look at price chart of USD/CAD.

USD/CAD Technical Analysis

Coming into today the current price of USD/CAD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone down 6 out of the past 10 days. 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 USDCAD, with 7 buy signals on our radar and 17 sell signals. This imputes a buy/sell ratio of 0.41, which is bearish. 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; below is a short snippet from it to give you a taste.

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