GBP/CAD - Daily - Technical analysis published on 07/15/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Neutral
Technical indicators
83%
0%
17%
My opinion
Bullish above 1.6954 CAD
My targets
1.7239 CAD (+0.0115)
1.7498 CAD (+0.0374)
My analysis
The current short-term bullish trend should quickly fix the basic bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for GBP/CAD as long as the price remains well above 1.6954 CAD. The buyers” bullish objective is set at 1.7239 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.7498 CAD. If there is any crossing, the next objective would be the resistance located at 1.7753 CAD.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
4.5
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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 price is 1.7124 CAD. On the day, this instrument gained +0.19% and was traded between 1.7092 CAD and 1.7146 CAD over the period. The price is currently at +0.19% from its lowest and -0.13% from its highest.1.7092
1.7146
1.7124
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by GBP/CAD:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of GBP/CAD indicates that the overall trend is not clearly defined. The trend could quickly turn bullish due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 1.6634 | 1.6805 | 1.6954 | 1.7124 | 1.7239 | 1.7498 | 1.7753 |
Change (%) | -2.86% | -1.86% | -0.99% | - | +0.67% | +2.18% | +3.67% |
Change | -0.0490 | -0.0319 | -0.0170 | - | +0.0115 | +0.0374 | +0.0629 |
Level | Major | Intermediate | Major | - | Intermediate | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.6932 | 1.6970 | 1.7031 | 1.7069 | 1.7130 | 1.7168 | 1.7229 |
Camarilla | 1.7065 | 1.7074 | 1.7083 | 1.7092 | 1.7101 | 1.7110 | 1.7119 |
Woodie | 1.6944 | 1.6976 | 1.7043 | 1.7075 | 1.7142 | 1.7174 | 1.7241 |
Fibonacci | 1.6970 | 1.7008 | 1.7031 | 1.7069 | 1.7107 | 1.7130 | 1.7168 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.6640 | 1.6763 | 1.6961 | 1.7084 | 1.7282 | 1.7405 | 1.7603 |
Camarilla | 1.7070 | 1.7099 | 1.7129 | 1.7158 | 1.7187 | 1.7217 | 1.7246 |
Woodie | 1.6677 | 1.6782 | 1.6998 | 1.7103 | 1.7319 | 1.7424 | 1.7640 |
Fibonacci | 1.6763 | 1.6886 | 1.6962 | 1.7084 | 1.7207 | 1.7283 | 1.7405 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.6225 | 1.6488 | 1.6652 | 1.6915 | 1.7079 | 1.7342 | 1.7506 |
Camarilla | 1.6699 | 1.6738 | 1.6777 | 1.6816 | 1.6855 | 1.6894 | 1.6933 |
Woodie | 1.6176 | 1.6463 | 1.6603 | 1.6890 | 1.7030 | 1.7317 | 1.7457 |
Fibonacci | 1.6488 | 1.6651 | 1.6752 | 1.6915 | 1.7078 | 1.7179 | 1.7342 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 57.99 | |
MACD (12,26,9): | 0.0023 | |
Directional Movement: | 8.4230 | |
AROON (14): | 57.1428 | |
DEMA (21): | 1.7037 | |
Parabolic SAR (0,02-0,02-0,2): | 1.6853 | |
Elder Ray (13): | 0.0078 | |
Super Trend (3,10): | 1.7192 | |
Zig ZAG (10): | 1.7128 | |
VORTEX (21): | 1.0316 | |
Stochastique (14,3,5): | 75.47 | |
TEMA (21): | 1.7099 | |
Williams %R (14): | -18.91 | |
Chande Momentum Oscillator (20): | 0.0313 | |
Repulse (5,40,3): | 0.2972 | |
ROCnROLL: | 1 | |
TRIX (15,9): | -0.0075 | |
Courbe Coppock: | 2.08 |
MA7: | 1.7099 | |
MA20: | 1.6966 | |
MA50: | 1.7030 | |
MA100: | 1.7185 | |
MAexp7: | 1.7080 | |
MAexp20: | 1.7024 | |
MAexp50: | 1.7060 | |
MAexp100: | 1.7103 | |
Price / MA7: | +0.15% | |
Price / MA20: | +0.93% | |
Price / MA50: | +0.55% | |
Price / MA100: | -0.35% | |
Price / MAexp7: | +0.26% | |
Price / MAexp20: | +0.59% | |
Price / MAexp50: | +0.38% | |
Price / MAexp100: | +0.13% |
Quotes :
2020-07-15 08:47:14
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Real time data
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Forex
News
The latest news and videos published on GBP/CAD at the time of the analysis were as follows:
- GBPCAD Sports a Trend That Belies Uncertainty and High Risk of Volatility (Quick Take Video)
- Webinar: Central Bank Weekly: GBP, CAD Rebound as BOE, BOC Rate Hike Odds Rise: 7/5/18
- Why I'm looking to buy GBPCAD: Coleman
- Oil & Brexit GBP CAD
- Webinar: Price Action Setups GBP, CAD, DXY
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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