EUR/CAD Down 0 Pips On 4 Hour Chart, 3 Day Up Streak Ended; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
EURCAD
(Last Updated August 6, 2020)
Hello! This is the news page for EURCAD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
On EURCAD, there is currently an uptrend on the 90, 30 and 14 day timeframes.
EURCAD Moving Averages
The moving averages on EURCAD indicate a trend that is clearly bullish.
The chart below illustrates.
Regarding EURCAD’s correlations over the past 7 days, it has been most correlated with AUDCAD. 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 USDSEK, but over the past two weeks, the asset least correlated with EURCAD has been NZDCAD. The chart below illustrates EURCAD against its least correlated assets.
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The View From the Weekly Timeframe
Currently, EURCAD’s rate is down -0.0045 (-0.28%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as EURCAD has now gone up 4 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. EURCAD’s weekly price action over the past 52 weeks can be seen via the chart below.
EUR/CAD Up 13 Pips in Last 4 Hours, 3 Day Up Streak Broken; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of a triple top technical pattern.
EUR/CAD Down 14 Pips Over Past 4 Hours, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
EUR/CAD Up 2 Pips On 4 Hour Chart, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
This imputes a buy/sell ratio of 0.85, which is neutral.
EUR/CAD Down 13 Pips Over Past 4 Hours, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
EUR/CAD Down 23 Pips in Last 4 Hours, 2 Day Up Streak Ended; in an Uptrend Over Past 30 Days
As for the rationale, technical traders seem to be citing the appearance of channel and trendline technical patterns.
EUR/CAD Up 37 Pips in Last 4 Hours, Came Into Today Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
This imputes a buy/sell ratio of 0.9, which is neutral.
EUR/CAD Up 34 Pips Over Past 4 Hours, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
The closest is the 20 day average, which is 82.5 pips away.
EUR/CAD Up 29 Pips Over Past 4 Hours, 2 Day Up Streak Broken; in an Uptrend Over Past 14 Days
Compared to its peers in the forex, eur/cad gave its buyers a return that ranked 29th in terms of percentage change since the day prior.
EUR/CAD Up 8 Pips On 4 Hour Chart, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days
Relative to other instruments in the forex asset class, eur/cad ranked 19th yesterday in terms of percentage price change.