GBP/CAD - Daily - Technical analysis published on 10/10/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 1.6248 CAD
My targets
1.6609 CAD (+0.39%)
1.7013 CAD (+2.83%)
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 1.6248 CAD. The buyers” bullish objective is set at 1.6609 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.7013 CAD. If there is any crossing, the next objective would be the resistance located at 1.7776 CAD.
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
5.2
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This analysis was given by hsokkar. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/CAD price is 1.6545 CAD. The price registered an increase of +1.60% on the session and was traded between 1.6253 CAD and 1.6567 CAD over the period. The price is currently at +1.80% from its lowest and -0.13% from its highest.1.6253
1.6567
1.6545
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 (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this GBP/CAD chart shows a bullish trend. 67.86% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 11 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
Ichimoku - Bearish crossover : Tenkan & Kijun
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : Daily
Near support of channel
Type : Bullish
Timeframe : Daily
Support of triangle is broken
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 | 1.5874 | 1.6086 | 1.6248 | 1.6545 | 1.6609 | 1.7013 | 1.7776 |
| Change (%) | -4.06% | -2.77% | -1.80% | - | +0.39% | +2.83% | +7.44% |
| Change | -0.0671 | -0.0459 | -0.0297 | - | +0.0064 | +0.0468 | +0.1231 |
| Level | Major | Intermediate | Major | - | Major | Minor | 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 | 1.6105 | 1.6169 | 1.6227 | 1.6291 | 1.6349 | 1.6413 | 1.6471 |
| Camarilla | 1.6251 | 1.6263 | 1.6274 | 1.6285 | 1.6296 | 1.6307 | 1.6319 |
| Woodie | 1.6102 | 1.6168 | 1.6224 | 1.6290 | 1.6346 | 1.6412 | 1.6468 |
| Fibonacci | 1.6169 | 1.6216 | 1.6244 | 1.6291 | 1.6338 | 1.6366 | 1.6413 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5861 | 1.6027 | 1.6223 | 1.6389 | 1.6585 | 1.6751 | 1.6947 |
| Camarilla | 1.6320 | 1.6354 | 1.6387 | 1.6420 | 1.6453 | 1.6486 | 1.6520 |
| Woodie | 1.5877 | 1.6035 | 1.6239 | 1.6397 | 1.6601 | 1.6759 | 1.6963 |
| Fibonacci | 1.6027 | 1.6165 | 1.6250 | 1.6389 | 1.6527 | 1.6612 | 1.6751 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5189 | 1.5573 | 1.5924 | 1.6308 | 1.6659 | 1.7043 | 1.7394 |
| Camarilla | 1.6073 | 1.6140 | 1.6208 | 1.6275 | 1.6342 | 1.6410 | 1.6477 |
| Woodie | 1.5173 | 1.5565 | 1.5908 | 1.6300 | 1.6643 | 1.7035 | 1.7378 |
| Fibonacci | 1.5573 | 1.5854 | 1.6027 | 1.6308 | 1.6589 | 1.6762 | 1.7043 |
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): | 58.26 | |
| MACD (12,26,9): | 0.0018 | |
| Directional Movement: | 9.1517 | |
| AROON (14): | -57.1429 | |
| DEMA (21): | 1.6405 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.6192 | |
| Elder Ray (13): | 0.0028 | |
| Super Trend (3,10): | 1.6152 | |
| Zig ZAG (10): | 1.6536 | |
| VORTEX (21): | 0.9954 | |
| Stochastique (14,3,5): | 41.64 | |
| TEMA (21): | 1.6400 | |
| Williams %R (14): | -11.08 | |
| Chande Momentum Oscillator (20): | 0.0005 | |
| Repulse (5,40,3): | 1.7880 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0275 | |
| Courbe Coppock: | 1.61 |
| MA7: | 1.6389 | |
| MA20: | 1.6432 | |
| MA50: | 1.6269 | |
| MA100: | 1.6443 | |
| MAexp7: | 1.6387 | |
| MAexp20: | 1.6375 | |
| MAexp50: | 1.6365 | |
| MAexp100: | 1.6495 | |
| Price / MA7: | +0.95% | |
| Price / MA20: | +0.69% | |
| Price / MA50: | +1.70% | |
| Price / MA100: | +0.62% | |
| Price / MAexp7: | +0.96% | |
| Price / MAexp20: | +1.03% | |
| Price / MAexp50: | +1.09% | |
| Price / MAexp100: | +0.30% |
News
The last news published on GBP/CAD at the time of the generation of this analysis 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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