EURCAD

(Last Updated April 15, 2021)

Hello! This is the news page for EURCAD. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for EURCAD

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%
Euro Area Eurogroup Video Conference	NA	Euro	EUR	2021-04-16	08:00 GMT
Euro Area Core Inflation Rate YoY Final	Mar 2021	Euro	EUR	2021-04-16	09:00 GMT	0.9%
Euro Area Inflation Rate YoY Final	Mar 2021	Euro	EUR	2021-04-16	09:00 GMT	1.3%
Euro Area Balance of Trade	Feb 2021	Euro	EUR	2021-04-16	09:00 GMT

The Trend

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

EURCAD Moving Averages

The moving averages on EURCAD summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bearish, suggesting the trend is generally downward, aside from a spike about 3 weeks prior.

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

Regarding EURCAD’s correlations over the past 7 days, it has demonstrated the strongest correlation with CADJPY. Over the past 14 days, however, the asset showing the strongest correlation to EURCAD is CADCHF. On the flip side, the asset least correlated with EURCAD over the past week has been EURTRY, but if we observe the prior two weeks, the asset least correlated with EURCAD has been USDCAD. The chart below illustrates EURCAD against its least correlated assets.

The View From the Weekly Timeframe

At the time of this writing, EURCAD’s rate is up 85 pips (0.57%) from the week prior. Moreover, note that the weekly chart shows that EURCAD has seen 2 straight up weeks. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. 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 EURCAD’s price action over the past year.