USD/CAD Up 20 Pips in Last Hour, Moves Down For the 3rd Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated January 14, 2022 1:37 GMT)

At the time of this writing, USDCAD’s rate is up 20 pips (0.16%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDCAD is down 15 pips (0.12%) since the day prior (opening today near 1.24895), marking the 3rd day in a row a decline has happened. Out of the 39 instruments in the Forex asset class, USDCAD ended up ranking 20th for the day in terms of price change. Here is a price chart of USDCAD.

USDCAD

USDCAD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDCAD crossed below its 200 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days USDCAD’s price has gone down 18 them.