CAD to INR forecast

CAD to INR Forecast : Today, Next Week, Next Month 2021

CAD to INR is an important currency pair for both traders and Indian immigrants living in Canada. So CAD to INR forecast is also important for you. It provides a trend analysis and let you make appropriate financial decisions.

Now, let’s analyze CAD to INR trends.

In this analysis, we will analyze trends for July month. We will also analyze short term trend for next few days and weeks. Below will be the structure for this post.

  • Table of Content
  • Price Action
    • CAD to INR Analysis – Weekly Chart
    • CAD to INR Analysis – Daily Chart
    • CAD to INR Analysis – 30 Minutes Chart
  • Indicator Based Analysis
    • CAD to INR Analysis – Weekly Chart
    • CAD to INR Analysis – Daily Chart
    • CAD to INR Analysis – 30 Minutes Chart

CAD to INR Forecast – Price Action – Weekly Chart

As of today, CAD against INR is priced at 60.158 as per IDC chart. Now if we see below chart, current price is at crucial support.

CAD to INR

If CAD breaks 59.446 level against INR made in mid Jun this year, CAD vs INR can go down to 56.689. Which is 2.757 Indian rupee down from current level. Recently Australian govt came up with unemployment data and it was good against forecast.

If price hold current level indicated in above chart, it can take a bounce from here and July-2021 can see a short term uptrend. Now let’s see a slightly long term analysis.

CAD to INR forecast

If we check trends from last one year, price is in a channel. So if the channel is broken, it can lead to a downtrend for short to medium term. If the price stop at 56.749 is broken it can lead to even bigger correction. Price can go to Sep-2020 level of 54.943.

CAD vs INR Analysis – Daily Chart

If we convert the same chart from weekly to daily timeframe, we will see below chart.

CAD vs INR

On a daily chart of Canadian dollar against Indian rupee, price has broken an important support level of 59.446. Now the next support is at 57.482. Which is also a weekly support as we have seen in above chart.

If the price bounces from there, it will also save weekly trend from breaking down. If the next support is broken, it can lead a daily trend to price going to 56.689 which is also a weekly support. we can see that in below image.

However, price is bouncing currently. so if it goes up from here and breaks the minor resistance at 60.477, 60.761 & 60.924 then it can make a new high and it can be a reality.

Canadian Dollar vs Indian Rupee Analysis – 30 Minutes Chart

Canadian dollar to INR

So 30 minutes trend is showing some strength. if price stays above 60.0 to 60.10, it can move as the level mentioned earlier.

So our conclusion from the weekly, daily and 30 minutes price action chart of CAD vs INR is bullish to flat for short term and at support for next month i.e. July-2021.

Now let’s see the trend with indicators.

CAD to INR Analysis – Indicator Based – Weekly Chart

As we have seen in price action analysis, Canadian Dollar is in short term bullish to flat trend against Indian rupee. Now let’s see the same with indicators. We will use simple indicator ‘Moving Average’. 21 days and 50 days moving averages are considered most important when it is considered for short and medium trend.

CAD to INR forecast

As we can see the above weekly chart with 21(Red) days and 50(Blue) days moving average. Price has taken support at 50 days moving average in last week at 59.423 and now moving towards new high.

If 60.924 is broken, we can see short term break out and moving average shoot up towards up trend.

CAD vs INR Analysis – Indicator Based – Daily Chart

If we see daily chart of CAD to INR, price is moving above both 21 & 50 days moving averages. This is showing short term strength in this pair.

Canadian dollar to Indian rupee

Now both the 21 days moving average is crossing 50 days moving average. This is a good sign for the pair.

Canadian Dollar vs Indian Rupee Analysis – Indicator Based – 30 Minutes Chart

30 minutes chart of CAD vs INR is showing even more strength then all the above charts together.

CAD to INR forecast

This chart is showing 21 days moving average is crossing 50 days average. The other good sign is price is also moving with the line. This means price has little chances of a breakdown. For next couple of days there is high chance where price can move for a up trend.

CAD against INR can bounce for an All-time-high price. so, If you have a long position, it is good to hold for a decent upcoming trend.

Our CAD to INR forecast for July-2021 ends here with a conclusion of strong trend of Canadian Dollar against Indian rupee.

So stay in and can initiate a long position if levels mentioned in price action trends are broken.

Please share your queries and suggestions in comments.

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