GBP/CAD - 1H - Technical analysis published on 09/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 1.7987 CAD
My targets
1.8066 CAD (+0.0022)
1.8380 CAD (+0.0336)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/CAD as long as the price remains well above 1.7987 CAD. The buyers' bullish objective is set at 1.8066 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.8380 CAD. If there is any crossing, the next objective would be the resistance located at 1.8590 CAD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.9
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This analysis was given by GCrow. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/CAD rating 1.8044 CAD. The price has increased by +0.17% since the last closing and was traded between 1.8003 CAD and 1.8089 CAD over the period. The price is currently at +0.23% from its lowest and -0.25% from its highest.1.8003
1.8089
1.8044
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/CAD chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 1.7880 | 1.7987 | 1.8028 | 1.8044 | 1.8590 | 1.9154 | 2.0948 |
| Change (%) | -0.91% | -0.32% | -0.09% | - | +3.03% | +6.15% | +16.09% |
| Change | -0.0164 | -0.0057 | -0.0016 | - | +0.0546 | +0.1110 | +0.2904 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.7883 | 1.7915 | 1.7964 | 1.7996 | 1.8045 | 1.8077 | 1.8126 |
| Camarilla | 1.7991 | 1.7998 | 1.8006 | 1.8013 | 1.8020 | 1.8028 | 1.8035 |
| Woodie | 1.7892 | 1.7919 | 1.7973 | 1.8000 | 1.8054 | 1.8081 | 1.8135 |
| Fibonacci | 1.7915 | 1.7946 | 1.7965 | 1.7996 | 1.8027 | 1.8046 | 1.8077 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.7556 | 1.7625 | 1.7726 | 1.7795 | 1.7896 | 1.7965 | 1.8066 |
| Camarilla | 1.7781 | 1.7797 | 1.7812 | 1.7828 | 1.7844 | 1.7859 | 1.7875 |
| Woodie | 1.7573 | 1.7633 | 1.7743 | 1.7803 | 1.7913 | 1.7973 | 1.8083 |
| Fibonacci | 1.7625 | 1.7690 | 1.7730 | 1.7795 | 1.7860 | 1.7900 | 1.7965 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6997 | 1.7202 | 1.7458 | 1.7663 | 1.7919 | 1.8124 | 1.8380 |
| Camarilla | 1.7586 | 1.7629 | 1.7671 | 1.7713 | 1.7755 | 1.7798 | 1.7840 |
| Woodie | 1.7022 | 1.7215 | 1.7483 | 1.7676 | 1.7944 | 1.8137 | 1.8405 |
| Fibonacci | 1.7202 | 1.7378 | 1.7487 | 1.7663 | 1.7839 | 1.7948 | 1.8124 |
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): | 61.69 | |
| MACD (12,26,9): | 0.0020 | |
| Directional Movement: | 23.2867 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 1.8044 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7996 | |
| Elder Ray (13): | 0.0025 | |
| Super Trend (3,10): | 1.8021 | |
| Zig ZAG (10): | 1.8043 | |
| VORTEX (21): | 1.2240 | |
| Stochastique (14,3,5): | 73.00 | |
| TEMA (21): | 1.8051 | |
| Williams %R (14): | -51.11 | |
| Chande Momentum Oscillator (20): | 0.0032 | |
| Repulse (5,40,3): | -0.0898 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0133 | |
| Courbe Coppock: | 0.47 |
| MA7: | 1.7932 | |
| MA20: | 1.7824 | |
| MA50: | 1.7753 | |
| MA100: | 1.7566 | |
| MAexp7: | 1.8041 | |
| MAexp20: | 1.8019 | |
| MAexp50: | 1.7988 | |
| MAexp100: | 1.7950 | |
| Price / MA7: | +0.62% | |
| Price / MA20: | +1.23% | |
| Price / MA50: | +1.64% | |
| Price / MA100: | +2.72% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.14% | |
| Price / MAexp50: | +0.31% | |
| Price / MAexp100: | +0.52% |
Quotes :
-
Real time data
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Forex
News
The last news published on GBP/CAD at the time of the generation of this analysis was as follows:
-
GBP/CAD Forecast September 2, 2024
-
GBP/CAD Forecast August 29, 2024
-
GBP/CAD Forecast August 13, 2024
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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