USD/CAD Down 13 Pips in Last 4 Hours, 2 Day Up Streak Snapped; Eyes 20 and 50 Day Averages

USD/CAD 4 Hour Price Update

Updated May 25, 2020 05:08 PM GMT (01:08 PM EST)

USD/CAD is down 13 pips (0.09%) since the previous 4 hours (opening the current 4 hour candle near 1.3971), marking the 2nd candle in a row a decrease has occurred. Compared to its peers in the Forex, USD/CAD gave its buyers a return that ranked 28th in terms of percentage change since the previous 4 hours.

USD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/CAD entered today at 1.40039, down 0 pips (0%) from the day prior. Compared to its peers in the Forex, USD/CAD gave its buyers a return that ranked 26th in terms of percentage change since the day prior. The price chart of USD/CAD below illustrates.

USD/CAD Technical Analysis

Notably, the current price of USD/CAD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. The closest is the 20 day average, which is 18.7 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.