GBP/CAD - 1H - Technical analysis published on 06/08/2020 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
50%
17%
33%
My opinion
Bullish above 1.6993 CAD
My targets
1.7086 CAD (+0.0055)
1.7120 CAD (+0.0089)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on GBP/CAD. As long as you are above the support located at 1.6993 CAD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 1.7086 CAD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 1.7120 CAD as an objective. Crossing it would then enable buyers to target 1.7239 CAD. If the support 1.6993 CAD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
4.3
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/CAD rating is 1.7031 CAD. On the day, this instrument gained +0.16% with the lowest point at 1.6997 CAD and the highest point at 1.7067 CAD. The deviation from the price is +0.20% for the low point and -0.21% for the high point.1.6997
1.7067
1.7031
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/CAD chart shows a bullish trend. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Moving Average bullish crossovers : AMA50 & AMA100
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a slightly bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.6906 | 1.6964 | 1.6993 | 1.7031 | 1.7032 | 1.7086 | 1.7120 |
| Change (%) | -0.73% | -0.39% | -0.22% | - | +0.01% | +0.32% | +0.52% |
| Change | -0.0125 | -0.0067 | -0.0038 | - | +0.0001 | +0.0055 | +0.0089 |
| Level | Intermediate | Minor | Minor | - | Minor | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6830 | 1.6897 | 1.6951 | 1.7018 | 1.7072 | 1.7139 | 1.7193 |
| Camarilla | 1.6971 | 1.6982 | 1.6993 | 1.7004 | 1.7015 | 1.7026 | 1.7037 |
| Woodie | 1.6823 | 1.6894 | 1.6944 | 1.7015 | 1.7065 | 1.7136 | 1.7186 |
| Fibonacci | 1.6897 | 1.6944 | 1.6972 | 1.7018 | 1.7065 | 1.7093 | 1.7139 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6688 | 1.6784 | 1.6894 | 1.6990 | 1.7100 | 1.7196 | 1.7306 |
| Camarilla | 1.6947 | 1.6966 | 1.6985 | 1.7004 | 1.7023 | 1.7042 | 1.7061 |
| Woodie | 1.6695 | 1.6788 | 1.6901 | 1.6994 | 1.7107 | 1.7200 | 1.7313 |
| Fibonacci | 1.6784 | 1.6863 | 1.6911 | 1.6990 | 1.7069 | 1.7117 | 1.7196 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5801 | 1.6323 | 1.6661 | 1.7183 | 1.7521 | 1.8043 | 1.8381 |
| Camarilla | 1.6763 | 1.6841 | 1.6920 | 1.6999 | 1.7078 | 1.7157 | 1.7236 |
| Woodie | 1.5709 | 1.6277 | 1.6569 | 1.7137 | 1.7429 | 1.7997 | 1.8289 |
| Fibonacci | 1.6323 | 1.6652 | 1.6855 | 1.7183 | 1.7512 | 1.7715 | 1.8043 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 50.97 | |
| MACD (12,26,9): | 0.0009 | |
| Directional Movement: | -0.1066 | |
| AROON (14): | 57.1428 | |
| DEMA (21): | 1.7049 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7000 | |
| Elder Ray (13): | 0.0007 | |
| Super Trend (3,10): | 1.6987 | |
| Zig ZAG (10): | 1.7041 | |
| VORTEX (21): | 1.0188 | |
| Stochastique (14,3,5): | 80.00 | |
| TEMA (21): | 1.7050 | |
| Williams %R (14): | -38.57 | |
| Chande Momentum Oscillator (20): | 0.0008 | |
| Repulse (5,40,3): | -0.1390 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0069 | |
| Courbe Coppock: | 0.23 |
| MA7: | 1.6998 | |
| MA20: | 1.7040 | |
| MA50: | 1.7279 | |
| MA100: | 1.7246 | |
| MAexp7: | 1.7046 | |
| MAexp20: | 1.7036 | |
| MAexp50: | 1.7019 | |
| MAexp100: | 1.7004 | |
| Price / MA7: | +0.19% | |
| Price / MA20: | -0.05% | |
| Price / MA50: | -1.44% | |
| Price / MA100: | -1.25% | |
| Price / MAexp7: | -0.09% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | +0.07% | |
| Price / MAexp100: | +0.16% |
Quotes :
2020-06-08 06:52:11
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Real time data
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Forex
News
Don"t forget to follow the news on GBP/CAD. At the time of publication of this analysis, the latest news was as follows:
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GBPCAD Sports a Trend That Belies Uncertainty and High Risk of Volatility (Quick Take Video)
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Webinar: Central Bank Weekly: GBP, CAD Rebound as BOE, BOC Rate Hike Odds Rise: 7/5/18
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Why I'm looking to buy GBPCAD: Coleman
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Oil & Brexit GBP CAD
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Webinar: Price Action Setups GBP, CAD, DXY
This member declared not having a position on this financial instrument or a related financial instrument.
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