(Last Updated April 23, 2021 0:18 GMT)
Currently, CADCHF’s rate is up 1 pips (0.02%) from the hour prior. The hourly chart shows that CADCHF has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
CADCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for CADCHF, which started today off at 0.73312, up 69 pips 0.95% from the day prior. CADCHF outperformed all 39 assets in the Forex asset class the day prior. Here is a price chart of CADCHF.
CADCHF Technical Analysis
First things first: CADCHF crossed above its 50 day moving average yesterday. 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. Interestingly, a trend in the other direction exists on the 14 and 30 day timeframes, where price is headed down. Or to simplify this another way, note that out of the past 10 days CADCHF’s price has gone up 5 them. We’re also seeing a bullish engulfing pattern here, and given the downtrend on the 90, 14 and 30 day