TriumphFX – Forex Analysis – CAD Pairs – October, November & December 2021


Previous analysis… https://analysis.tfxi.com/2021/07/30/triumphfx-forex-analysis-cad-pairs-july-august-september-2021/

AUDCAD – Daily Chart

AUDCAD Daily Chart

As suggested in our last CAD chart analysis, the AUDCAD has been bearish and has continued to downtrend.

Price is clearly down-trending – price action has formed a long series of lower swing highs and lower swing lows. The daily moving averages averages are bearish and steady, signalling that the downtrend could continue. The AUDCAD has formed a bearish channel. Price is also down-trending on the weekly time-frame.

Selling opportunities may exist around the dynamic resistance of the moving averages, around the bearish channel resistance area and around any of the horizontal levels at 0.9360, 0.9385, 0.9485, 0.9540 and 0.9735. A bearish move could reverse around the bearish channel support area.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to continue to improve.

The Reserve Bank of Australia (RBA) continues to keep the official interest rate at the record low of 0.10%. The rate is could stay the same until 2024. The RBA are expecting an economic bounce back during 2022.

CADCHF – Daily Chart

CADCHF Daily Chart

The CADCHF has been indecisive and has been moving sideways, as suggested in our last CAD analysis.

Price is lacking trend direction and is moving sideways. The moving averages confirm the market indecision – they are tight and moving sideways. The CADCHF is also looking indecisive on the weekly time-frame.

Trading opportunities could exist around the moving averages and around any of the identified horizontal levels at 0.7040, 0.7140, 0.7200, 0.7375 and 0.7500.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The Swiss economy is recovering from COVID and seems stable.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to continue to improve.

CADJPY – Daily Chart

CADJPY Daily Chart

As suggested in our last CAD analysis, price has been bullish.

CADJPY is up-trending and is currently attempting to swing higher. The daily moving averages are tight and moving sideways, signalling potential market indecision – price could start ranging.

Buying opportunities may exist around the dynamic support of the moving averages and around any of the horizontal levels at 88.35, 85.50, 85.10 and 82.00. CADJPY could be rejected or reverse around the recent swing high and psychological level at 91.00.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to continue to improve.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is expected to make a moderate recovery from the COVID crisis but some analysts are stating that the Japanese economy is stagnant and may experience economic challenges in the coming months.

USDCAD – Daily Chart

USDCAD Daily Chart

Price has been bullish, as suggested in our last CAD chart analysis.

USDCAD is now looking indecisive, despite a short series of higher swing highs and higher swing lows. The moving averages confirm the current indecision – they are tight and moving sideways. Price is ranging between 1.2445 and 1.2845. USDCAD is potentially down-trending on higher time-frames, suggesting that price may attempt a move lower.

Trading opportunities could exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the downside may find support around 1.2040. A break to the upside may find resistance around 1.2890, 1.3000 and 1.3385.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than originally expected and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to continue to improve.

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