(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:
| 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 |
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.
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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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.
Clearest trend on the monthly is apparent at the 60 month timeframe.
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.
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.
For additional context, note that price has gone up 6 out of the past 10 days.
From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
The closest is the 20 day average, which is 83.6 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.
The closest is the 100 day average, which is 65 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 18th in terms of percentage change since yesterday.