Canadian Dollar Forecast: GBP/CAD, CAD/CHF, NZD/CAD, EUR/CAD

Posted 20 February, 2020

GBP/CAD OUTLOOK

GBP / CAD recently discontinued 2019. September. The rise and opened the door to a short-term correction of the bears, when it rose by nearly eight percent in five months. As the pair declines, the trend may fall slightly to 1.6957, but seller pressure may gain momentum if support is lifted. In addition, GBP / CAD traders will observe the October volatility minimum at 1.6730. If this happens, it may limit the short-term loss of the couple.

 

Chart showing GBP/CAD

GBP/CAD chart created using TradingView

 

CAD/CHF FORECAST

Below the low of 0.7252 CAD / CHF steadily climbed a steep slope. However, a bold price movement may become more indecisive as the pair approaches the sphere of multi-level resistance. The first attempt will be to clear the ceiling from 0.7473 to 0.7490. If the growth rate is stable, the pair may double-check the January maximum at 0.7504. If he breaks down for further action, he can revive a lightning-fast mood.

 

Chart showing CAD/CHF

CAD/CHF chart created using TradingView

 

 

NZD/CAD PRICE CHART

After melting in October's rise, NZD / CAD is down nearly three percent and is approaching November's support range of 0.8368 to 0.8350. As this level decreases, the sales pressure may decrease and before the recovery, huge buyer capacity may arise. Conversely, if the floor is loose, it can enhance the feel of the bear and push the couple to try again in 2019. October month.

 

Chart showing NZD/CAD

NZD/CAD chart created using TradingView

 

 

EUR/CAD ANALYSIS

Starting February 4, EUR / CAD suffers losses for 12 consecutive days, the longest record loss since it has been trading at its lowest level for three years. Couples seem to show signs of leaving when sellers retreat and buyers quickly engage in battle. The EUR / CAD recovery may experience some friction around 1.4372, but if it continues, this may indicate the beginning of a slight recovery.

 

Chart showing EUR/CAD

EUR/CAD chart created using TradingView

Previous forecast

28 February, 2020 16:06

← Coronavirus Impact: S&P 500, DAX, Gold and Crude Oil Outlook

The spread of the Coronavirus has prompted a sharp deterioration in risk appetite with equity markets tumbling, which in turn has seen investors seek safety in gold. Alongside this, oil prices have descended into bear market territory, consequently, pushing global inflation expectations lower and thus markets have repriced the likelihood of continued central bank easing. However, while volatility across various assets have soared, we put these moves into context based on previous virus outbreaks.

Coronavirus Impact: S&P 500, DAX, Gold and Crude Oil Outlook

Next forecast

04 February, 2020 15:53

USD/CAD Price Analysis: Set-up remains in favour of bullish traders →

  • USD/CAD bulls struggle to make it through 1.3300 mark.
  • Dip-buying should help limit any meaningful downfall.

 USD/CAD Price Analysis: Set-up remains in favour of bullish traders
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