USD/CAD 4 Hour Price Update
Updated March 25, 2020 01:41 PM GMT (09:41 AM EST)
USD/CAD, which opened the current 4 hour candle priced near 1.44, is up 25 pips 0.17% since the previous 4 hours, marking a reversal from the candle prior — and the end of a 5 four-hour candle negative run. Out of the 40 instruments in the Forex asset class, USD/CAD ended up ranking 15th 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 is down 25 pips (0.18%) since yesterday (opening today near 1.4436), marking the 2nd day in a row it has gone down. Relative to other instruments in the Forex asset class, USD/CAD ranked 37th yesterday in terms of percentage price change. Let’s take a look at price chart of USD/CAD.
USD/CAD Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days.
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 25 sell signals. This imputes a buy/sell ratio of 0.28, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
watch out for break out from the triangle