USD/CAD Up 20 Pips Over Past 4 Hours, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

USD/CAD 4 Hour Price Update

Updated May 20, 2020 05:03 PM GMT (01:03 PM EST)

The back and forth price flow continues for USD/CAD, which started the current 4 hour candle off at 1.3906, up 20 pips 0.14% from the last 4 hour candle. Out of the 37 instruments in the Forex asset class, USD/CAD ended up ranking 10th for the four-hour candle in terms of price change.

USD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/CAD entered today at 1.39345, down 7 pips (0.05%) from yesterday. Out of the 40 instruments in the Forex asset class, USD/CAD ended up ranking 37th for the day in terms of price change. Let’s take a look at price chart of USD/CAD.

USD/CAD Technical Analysis

Coming into today USD/CAD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 82.9 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 8 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDCAD; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on fxempire.com; below is a short snippet from it to give you a taste.

USD/CAD continues its attempts to settle below the key support level at 1.3850.