CAD/CHF Up 2 Pips On Hourly Chart, Entered Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days
Relative to other instruments in the forex asset class, cadchf ranked 5th yesterday in terms of percentage price change.
CADCHF
(Last Updated April 15, 2021)
Welcome to the news page for CADCHF (CADCHF). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for CADCHF
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Canada Manufacturing Sales MoM | Feb 2021 | Canadian Dollar | CAD | 2021-04-15 | 12:30 GMT | -1% | -1.6% |
| Canada Housing Starts | Mar 2021 | Canadian Dollar | CAD | 2021-04-16 | 12:15 GMT | 250K |
The Trend
As for trends on CADCHF, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
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 bullish, implying a upward trend, aside from a decline about 3 weeks prior.
The chart below illustrates.
As for assets in the Forex asset class CADCHF has been correlated to over the past week, it has demonstrated the strongest correlation with EURJPY. Over the past 14 days, however, the asset showing the strongest correlation to CADCHF is EURCAD. Alternatively, NZDUSD has been the asset least correlated with CADCHF — but over the past two weeks, USDCAD 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
Currently, CADCHF’s rate is down -3 pips (-0.05%) from the week prior. Moreover, note that this is the 2nd straight week CADCHF has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 10 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on CADCHF. Given that we see an uptrend on the 20 and 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly 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. The weekly chart below shows CADCHF’s price action over the past year.
CADCHF: The Monthly View
Clearest trend on the monthly is apparent at the 60 month timeframe.
CADCHF Down 0 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; Price Base in Formation Over Past 30 Days
The closest is the 50 day average, which is 71.7 pips away.
CADCHF Up 2 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Sentiment Suggests Sellers in Charge
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.
CADCHF Up 4 Pips in Last Hour, Moves Up For the 2nd Straight Day; Social Sentiment Biased Towards Buying
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.
CADCHF Up 1 Pips in Last Hour, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down.
CADCHF Up 4 Pips On Hourly Chart, Entered Today Up For the 3rd Day In A Row; in an Uptrend Over Past 90 Days
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.
CADCHF Up 1 Pips On Hourly Chart, Moves Up For the 2nd Straight Day; Nears 20 Day Moving Average
Of note is that the 20 hour changed directions on cadchf; it is now pointing down.
CADCHF Down 1 Pips Over Past Hour, Breaks Above 20 Day Average; in an Uptrend Over Past 90 Days
This is the 2nd consecutive hour cadchf has seen its price head down.
CADCHF Up 5 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Sentiment Suggests Buyers in Charge
This imputes a buy/sell ratio of 12, which is very bullish.
CADCHF Down 0 Pips On Hourly Chart, Crosses 50 Day Moving Average; in a Downtrend Over Past 30 Days
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.