The CAD is the strongest and the EUR is the weakest in 2019
As the year works toward the close, the CAD is ending as the strongest, while the EUR is the weakest.
Below shows the % changes of the major currencies vs each other from the end of year 2018 to the current price. The cumulative sums of the changes determines the rank with the highest number being the stronges and the lowest number the weakest.
Looking at the CAD, it rose vs all the major currencies in 2019. The EUR fell vs all the major currencies.
How did the USD do?
The US dollar was mostly lower. The currency fell vs the GBP, JPY, CHF, CAD and NZD. It was down the most vs the CAD at -4.88%. The greenback rose vs the EUR (by 2.11%) and marginally vs the AUD (+0.38%)
The largest change for the year was the EURCAD which fell 6.89%. What does that pair look like technically?
Looking at the daily chart, the recent high came in on December 31, 2018 at 1.56444. The high for the year was on the first day of the year at 1.5634.
Although the USDCAD reached it's years low today, the EURCAD actually bottomed on October 1 at 1.44139. The pair is not too far from that low at 1.45598 after consolidating near the lows over the last few months.
Technically, the price has been trading above and below the 100 day MA over the last few months (blue line currently at 1.46129), but has also been able to stay below is 200 day moving average since June 18 (see green line). That is more bearish. That 200 day moving average is up at 1.4765. Below that is a topside trend line that is forming at 1.4695.
With the price below the 100 day moving average, the topside trend line and the 200 day moving average, the technical bias is to the downside still. The pair is approaching a support trendline which comes in at 1.4535 currently (and moving higher). A move below that level would look toward the 2019 lows with the October 29 low at 1.4454 and the October 1 low at 1.44139 as the next obvious targets.
For the USDCAD, it too traded the highest on the 1st trading day of the year at 1.36617. The low for the year was indeed today at 1.29508. That is unique situation was achieved after the pair fell below its July low at 1.30151 today.
Although the pair has that unique high on the 1st day/low on the last day, the price action through most the year was filled with lots of ups and downs. The last "up" at the start of the month stalled at a topside trend line and marched lower.
