GBP/CAD - Daily - Technical analysis published on 01/29/2024 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
33%
28%
39%
My opinion
Bullish above 1.6865 CAD
My targets
1.7321 CAD (+0.0242)
1.7771 CAD (+0.0692)
My analysis
The bullish trend is currently very strong on GBP/CAD. As long as the price remains above the support at 1.6865 CAD, you could try to benefit from the boom. The first bullish objective is located at 1.7321 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.7771 CAD as an objective. Crossing it would then enable buyers to target 1.8590 CAD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
6.3
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This analysis was given by GCrow. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/CAD rating is 1.7079 CAD. The price registered a decrease of -0.06% on the session with the lowest point at 1.7068 CAD and the highest point at 1.7107 CAD. The deviation from the price is +0.06% for the low point and -0.16% for the high point.1.7068
1.7107
1.7079
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 HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this GBP/CAD chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Moving Average bullish crossovers : MA20 & MA50
Type : Bullish
Timeframe : Daily
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of triangle
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.6639 | 1.6865 | 1.7047 | 1.7079 | 1.7138 | 1.7321 | 1.7771 |
| Change (%) | -2.58% | -1.25% | -0.19% | - | +0.35% | +1.42% | +4.05% |
| Change | -0.0440 | -0.0214 | -0.0032 | - | +0.0059 | +0.0242 | +0.0692 |
| Level | Intermediate | Major | Major | - | Intermediate | Major | 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 | 1.6998 | 1.7035 | 1.7063 | 1.7100 | 1.7128 | 1.7165 | 1.7193 |
| Camarilla | 1.7072 | 1.7078 | 1.7084 | 1.7090 | 1.7096 | 1.7102 | 1.7108 |
| Woodie | 1.6993 | 1.7033 | 1.7058 | 1.7098 | 1.7123 | 1.7163 | 1.7188 |
| Fibonacci | 1.7035 | 1.7060 | 1.7076 | 1.7100 | 1.7125 | 1.7141 | 1.7165 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6835 | 1.6939 | 1.7014 | 1.7118 | 1.7193 | 1.7297 | 1.7372 |
| Camarilla | 1.7041 | 1.7057 | 1.7074 | 1.7090 | 1.7106 | 1.7123 | 1.7139 |
| Woodie | 1.6822 | 1.6932 | 1.7001 | 1.7111 | 1.7180 | 1.7290 | 1.7359 |
| Fibonacci | 1.6939 | 1.7007 | 1.7049 | 1.7118 | 1.7186 | 1.7228 | 1.7297 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6275 | 1.6518 | 1.6695 | 1.6938 | 1.7115 | 1.7358 | 1.7535 |
| Camarilla | 1.6758 | 1.6796 | 1.6835 | 1.6873 | 1.6912 | 1.6950 | 1.6989 |
| Woodie | 1.6243 | 1.6502 | 1.6663 | 1.6922 | 1.7083 | 1.7342 | 1.7503 |
| Fibonacci | 1.6518 | 1.6678 | 1.6777 | 1.6938 | 1.7098 | 1.7197 | 1.7358 |
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): | 52.70 | |
| MACD (12,26,9): | 0.0036 | |
| Directional Movement: | 5.0966 | |
| AROON (14): | 85.7143 | |
| DEMA (21): | 1.7112 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7221 | |
| Elder Ray (13): | -0.0001 | |
| Super Trend (3,10): | 1.6863 | |
| Zig ZAG (10): | 1.7087 | |
| VORTEX (21): | 1.1377 | |
| Stochastique (14,3,5): | 49.46 | |
| TEMA (21): | 1.7133 | |
| Williams %R (14): | -59.13 | |
| Chande Momentum Oscillator (20): | -0.0009 | |
| Repulse (5,40,3): | -0.2973 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0260 | |
| Courbe Coppock: | 1.48 |
| MA7: | 1.7109 | |
| MA20: | 1.7055 | |
| MA50: | 1.7052 | |
| MA100: | 1.6896 | |
| MAexp7: | 1.7104 | |
| MAexp20: | 1.7069 | |
| MAexp50: | 1.7019 | |
| MAexp100: | 1.6968 | |
| Price / MA7: | -0.18% | |
| Price / MA20: | +0.14% | |
| Price / MA50: | +0.16% | |
| Price / MA100: | +1.08% | |
| Price / MAexp7: | -0.15% | |
| Price / MAexp20: | +0.06% | |
| Price / MAexp50: | +0.35% | |
| Price / MAexp100: | +0.65% |
Quotes :
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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:
-
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.
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