CADCHF

(Last Updated September 18, 2020)

Welcome to the news page for CADCHF (CADCHF). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

As for trends on CADCHF, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 and 14 day timeframes. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.

CADCHF Moving Averages

Nuances in the trend on CADCHF can be understood by observing the behavior of its moving averages. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bearish, implying a downward trend, aside from a rally about 3 weeks prior. Moreover, it should also be noted that the 20 SMA just turned bullish today.

Below is a chart showing CADCHF’s price with its moving averages.

As for assets in the Forex asset class CADCHF has been correlated to over the past week, it has been most correlated with GBPJPY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to CADCHF is EURCAD. On the flip side, the asset least correlated with CADCHF over the past week has been ZARJPY, but if we observe the prior two weeks, EURUSD has been the asset least correlated with CADCHF. The chart below illustrates CADCHF against its least correlated assets.

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The View From the Weekly Timeframe

At the time of this writing, CADCHF’s rate is up 0.0002 (0.03%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Of note is that the 20 week changed directions on CADCHF; it is now pointing up. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows CADCHF’s price action over the past year.