TriumphFX – Forex Analysis – CAD Pairs – January, February & March 2022


Previous analysis… https://analysis.tfxi.com/2021/10/12/triumphfx-forex-analysis-cad-pairs-october-november-december-2021/

AUDCAD – Daily Chart

AUDCAD Daily Chart

As suggested in our previous analysis, price reversed around the bearish channel resistance area and has continued to be bearish.

AUDCAD is clearly down-trending – price action has formed a series of lower swing highs and lower swing lows. The moving averages are bearish but tightening, signalling that downside momentum may be weakening – the downtrend may becoming to an end.

Opportunities to go short could exist around the longer-term moving average, around the trend resistance area and around the horizontal levels at 0.9310, 0.9360, 0.9390, 0.9485, 0.9540 and 0.9735. A bearish move may stall or reverse around the shorter-term moving average and around the horizontal support levels at 0.9100 and 0.8975.

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 for the near future – possibly until 2024. The RBA are expecting an economic bounce back during 2022. Inflation pressures in Australia seem to be less than in other countries.

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. A rate increase is currently expected mid-2022. Inflation targets continue to be a priority and the BOC expect inflation to continue to be elevated during 2022.

CADCHF – Daily Chart

CADCHF Daily Chart

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

CADCHF is indecisive and is lacking trend momentum. The moving averages confirm the market indecision – they are tight and are moving sideways. Price is potential ranging between 0.7120 and 0.7510.

Trading opportunities may exist around the moving averages and around any of the identified horizontal levels at 0.6840, 0.6885, 0.7040, 0.7120, 0.7475, 0.7500 and 0.7510.

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. A rate increase is currently expected mid-2022. Inflation targets continue to be a priority and the BOC expect inflation to continue to be elevated during 2022.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB will continue to keep ultra-loose monetary policy in order to provide support to the Swiss economy. The bank continues to intervene with Foreign Exchange markets with regard to temper the value of the Swiss Franc.

CADJPY – Daily Chart

CADJPY Daily Chart

As suggested in our last CAD chart analysis, the CADJPY has been bullish and has swung higher.

Price is up-trending and is currently in a retrace move. The moving averages are tight but still bullish, suggesting that the CADJPY may attempt another bullish move.

Opportunities to go long could exist around the horizontal levels at 87.65, 85.55, 85.10 and 82.05. A bullish move may stall or reverse around the moving averages and around the horizontal resistance levels at 91.15 and 92.75.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is making a steady but moderate recovery from the COVID crisis.

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. A rate increase is currently expected mid-2022. Inflation targets continue to be a priority and the BOC expect inflation to continue to be elevated during 2022.

USDCAD – Daily Chart

USDCAD Daily Chart

The USDCAD has been bullish.

Price was indecisive but price action is currently forming a swing higher, suggesting the start of a possible uptrend. The moving averages confirm the potential upside – they are becoming bullish.

Long opportunities may exist around the dynamic support of the moving averages and around the horizontal levels at 1.2845 and 1.2320. A bullish move could be rejected or reverse around 1.2845 and around 1.3370.

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. A rate increase is currently expected mid-2022. Inflation targets continue to be a priority and the BOC expect inflation to continue to be elevated during 2022.

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 Fed will be cautious about raising rates, especially with the current Omnicron breakout.

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