(Last Updated November 27, 2020)
Hello! This is the news page for CADCHF. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
On CADCHF, there is currently an uptrend on the 90 and 30 day timeframes.
Nuances in the trend on CADCHF can be understood by observing the behavior of its moving averages. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bullish, implying a upward trend, aside from a decline about 6 months prior.
The chart below illustrates.
Regarding CADCHF’s correlations over the past 7 days, it has been most correlated with EURCHF. If we zoom out to a two week basis, though, EURCAD is the asset most correlated to CADCHF. On the flip side, GBPCAD has been the asset least correlated with CADCHF — just the same as it has been over the past two weeks. The chart below illustrates CADCHF against its least correlated assets.
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Currently, CADCHF’s rate is down 0 (0%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up 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. CADCHF’s weekly price action over the past 52 weeks can be seen via the chart below.
Strongest trend on the 120 month timeframe.
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
This imputes a buy/sell ratio of 2.25, which is bullish.
Compared to its peers in the forex, cadchf gave its buyers a return that ranked 31st in terms of percentage change since the day prior.
This is the 2nd consecutive hour cadchf has seen its price head up.
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 200 day average, which is 15.4 pips away.
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.
Compared to its peers in the forex, cadchf gave its buyers a return that ranked 10th in terms of percentage change since the day prior.