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EURCAD

(Last Updated January 23, 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
Euro Area ECB President Lagarde Speech NA Euro EUR 2021-01-25 08:45 GMT
Euro Area ECB President Lagarde Speech NA Euro EUR 2021-01-25 16:00 GMT

The Trend

On EURCAD, there is currently a downtrend on the 30 and 14 day timeframes.

EURCAD Moving Averages

The moving averages on EURCAD summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, suggesting the trend is generally downward, save for a rally that occurred about 6 months ago.

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 EURGBP. EURGBP is the asset with which EURCAD has been most correlated with over the past two weeks as well, so this may be a structural correlation in the market. On the flip side, the asset least correlated with EURCAD over the past week has been GBPJPY, but if we observe the prior two weeks, AUDJPY has been the asset least correlated with EURCAD. See the chart below to observe the recent price action in EURCAD versus those of assets it hasn’t been well correlated with.

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The View From the Weekly Timeframe

Currently, EURCAD’s rate is up 4 pips (0.02%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as EURCAD has now gone down 4 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 5 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURCAD. Given that we see downtrend on the 5 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 EURCAD’s price action over the past year.

EURCAD: The Monthly View

Strongest trend on the 120 month timeframe.

EURCAD Down 7 Pips in Last Hour, Breaks Above 20 Day Average; Price Base in Formation Over Past 14 and 90 Days

Categories Forex News Tags EURCAD
January 7, 2021January 6, 2021

It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign.

EURCAD Up 8 Pips Over Past Hour, 2 Day Down Streak Broken; Eyes 20 Day Average

Categories Forex News Tags EURCAD
January 6, 2021January 5, 2021

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.

EURCAD Up 2 Pips Over Past Hour, 2 Day Down Streak Snapped; in an Uptrend Over Past 30 Days

Categories Forex News Tags EURCAD
January 5, 2021January 4, 2021

The closest is the 20 day average, which is 60.2 pips away.

EURCAD Down 4 Pips in Last Hour, in an Uptrend Over Past 14 Days; Eyes 20, 50 and 100 Day Averages

Categories Forex News Tags EURCAD
January 4, 2021January 1, 2021

This is a reversal of the price action on the previous hour, in which price moved up.

EURCAD Down 29 Pips in Last Hour, Entered Today Down For the 2nd Straight Day; Nears 20, 50 and 100 Day Moving Averages

Categories Forex News Tags EURCAD
January 1, 2021December 31, 2020

Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.

EURCAD Up 2 Pips in Last Hour, 2 Day Up Streak Broken; in an Uptrend Over Past 14 Days

Categories Forex News Tags EURCAD
December 31, 2020December 30, 2020

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 Up 3 Pips On Hourly Chart, Moves Up For the 2nd Straight Day; in an Uptrend Over Past 14 Days

Categories Forex News Tags EURCAD
December 30, 2020December 29, 2020

It’s been a feast for bulls operating on an hourly timeframe, as eurcad has now gone up 5 of the past 5 hours.

EURCAD Up 7 Pips in Last Hour, 3 Day Down Streak Broken; in an Uptrend Over Past 14 Days

Categories Forex News Tags EURCAD
December 29, 2020December 28, 2020

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.

EURCAD Down 3 Pips Over Past Hour, Moves Down For the 3rd Day In A Row; in an Uptrend Over Past 14 Days

Categories Forex News Tags EURCAD
December 28, 2020December 25, 2020

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.

EURCAD Up 6 Pips On Hourly Chart, Moves Down For the 3rd Consecutive Day; Doji and Pin Bar Patterns Appearing on Chart

Categories Forex News Tags EURCAD
December 25, 2020December 24, 2020

Relative to other instruments in the forex asset class, eurcad ranked 26th the day prior in terms of percentage price change.

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