Weekly Trades: CAD/CHF, EUR/GBP, CHF/JPY, CAD/JPY

USD/CAD and all CAD currencies are favored this week as best trades and in first positions in the 18 currency pair rankings. CAD/CHF was added as the 19th currency for the week ahead. The future of CAD/CHF as addition to permanent weekly rankings and trades is undecided however CAD/CHF is an essential currency to trades and evaluation for all CAD currencies including CAD/EM.


USD/CAD as an anchor currency is quite different from EUR/USD, AUD/USD, NZD/USD and GBP/USD as those currencies contain a wider universe of currencies and much easier to evaluate trades than CAD.


CAD contains USD/CAD and CAD/JPY as both opposite movements pairs but many weeks both are located in neutral zones which means the price of USD/CAD and CAD/JPY are more closer to each other rather than distant. And significant averages are close.


CAD/CHF’s role in the CAD lineup serves its purpose many weeks as the deciding factor to lend confidence to USD/CAD and CAD/JPY trades. CAD/CHF and CAD/JPY is generally one unit or the same exact pairs while USD/CAD due to USD in the first position is opposite. The line up is USD/CAD vs CAD/JPY and CAD/CHF.


CAD/CHF is a good mover currency and profits by many pips on the same level as GBP/CHF but complete opposites to movements as USD/CHF, CHF/JPY, AUD/CHF and NZD/CHF. The driving force to CAD/CHF and CAD/JPY is clearly USD/CAD as USD/CAD contains wide ranges to its smaller range counterparts CAD/CHF and CAD/JPY.


Currently, USD/CAD serves as a middle currency position to GBP/USD and EUR/USD as


GBP/USD 1.3823
USD/CAD 1.2686
EUR/USD 1.1807.


In year 2020, USD/CAD’s position switched to top currency as the lineup became
USD/CAD 1.4400’s
GBP/USD 1.4212
EUR/USD 1.2300’s.


USD/CAD eventually crossed below GBP/USD and above EUR/USD to assume its current middle position status.


Spreads alone informs to USD/CAD middle position.


GBP/USD vs USD/CAD 1137 pips
USD/CAD vs EUR/USD 879 pips
GBP/USD Vs EUR/USD 2016 pips.


USD/EUR, CAD/USD and USD/GBP


USD/EUR 0.8469
CAD/USD 0.7882
USD/GBP 0.7234


CAD maintains middle position to reverse exchange rates. However the spreads compressed as


USD/EUR Vs CAD/USD 0.0587
CAD/USD Vs USD/GBP 0.0648
USD/EUR Vs USD/GBP 0.1235.


USD/CAD, CAD/JPY, CAD/CHF


USD/CAD 1.2686
CAD/JPY 86.55
CAD/CHF 0.7230.


The week


USD/CAD short, CAD/JPY and CAD/CHF long.


CAD/JPY,, CAD/USD, CAD/CHF Reverse Exchange Rates


CAD/JPY 0.8655
CAD/USD 0.7882
CAD/CHF 0.7230.


USD/CAD maintains middle status to CAD/JPY and CAD/CHF. USD/CAD or CAD/USD maintains the price driver position.


CAD/CHF Vs USD/GBP.


CAD/CHF closed 0.7230 and USD/GBP 0.7234. If CAD/CHF goes long then CAD/CHF may cross above USD/GBP to mean the same as GBP/USD will trade short. Lower GBP/USD is the same as long USD/GBP and CAD/CHF which says CAD/CHF is following as a USD currency.


CAD/JPY Vs EUR/GBP


CAD/JPY 86.55 or 0.8655
EUR/GBP 0.8535.
CAD/JPY and EUR/GBP this week goes long as both are the exact same currency pair.


CAD/JPY Vs EUR/GBP Further Evaluation.


CAD/JPY 0.8655 or 1.1554
EUR/GBP 0.8535 or 1.1716.


Note CAD/JPY oversold to EUR/GBP as both head long this week and EUR/GBP as the driver price

.
Weekly Trades EUR/GBP, CAD/CHF, CHF/JPY, CAD/JPY


EUR/GBP Long targets 0.8573. Long above 0.8580 to target 0.8595. Or Short 0.8573 to target 0.8557.


CAD/CHF Long Anywhere or 0.7225 to target 0.7276. Long above 0.7290 to target 0.7318. Or short 0.7276 to target 0.7253.


CHF/JPY Long 119.45 and 119.34 to target 119.76. Long above 119.87 to target 120.18. Short 120.18 to target 119.97.


CAD/JPY Long Anywhere or 86.46 to target 87.19. Long above 87.38 to target 87.81. Short 87.81 to target 87.51. Or short 87.19 to target 86.88.

Brian Twomey