GBP/CAD - 1H - Technical analysis published on 10/15/2019 (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
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 1.6730 CAD
My targets
1.6821 CAD (+0.08%)
1.7013 CAD (+1.23%)
My analysis
GBP/CAD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.6730 CAD. The next resistance located at 1.6821 CAD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.7013 CAD. After this resistance, buyers could then target 1.7325 CAD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
8.6
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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 1.6807 CAD. The price has increased by +0.78% since the last closing and was traded between 1.6670 CAD and 1.6912 CAD over the period. The price is currently at +0.82% from its lowest and -0.62% from its highest.1.6670
1.6912
1.6807
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/CAD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported 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, 14 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
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:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 1.6610 | 1.6663 | 1.6730 | 1.6807 | 1.6821 | 1.7013 | 1.7325 |
| Change (%) | -1.17% | -0.86% | -0.46% | - | +0.08% | +1.23% | +3.08% |
| Change | -0.0197 | -0.0144 | -0.0077 | - | +0.0014 | +0.0206 | +0.0518 |
| Level | Major | Minor | Minor | - | Intermediate | Intermediate | Minor |
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 | 1.6884 | 1.6949 | 1.6988 | 1.7053 | 1.7092 | 1.7157 | 1.7196 |
| Camarilla | 1.6997 | 1.7007 | 1.7017 | 1.7026 | 1.7036 | 1.7045 | 1.7055 |
| Woodie | 1.6870 | 1.6943 | 1.6974 | 1.7047 | 1.7078 | 1.7151 | 1.7182 |
| Fibonacci | 1.6949 | 1.6989 | 1.7014 | 1.7053 | 1.7093 | 1.7118 | 1.7157 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.7266 | 1.7415 | 1.7636 | 1.7785 | 1.8006 | 1.8155 | 1.8376 |
| Camarilla | 1.7756 | 1.7790 | 1.7824 | 1.7858 | 1.7892 | 1.7926 | 1.7960 |
| Woodie | 1.7303 | 1.7433 | 1.7673 | 1.7803 | 1.8043 | 1.8173 | 1.8413 |
| Fibonacci | 1.7415 | 1.7556 | 1.7643 | 1.7785 | 1.7926 | 1.8013 | 1.8155 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 56.00 | |
| MACD (12,26,9): | 0.0036 | |
| Directional Movement: | 18.6764 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 1.6759 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.6343 | |
| Elder Ray (13): | 0.0068 | |
| Super Trend (3,10): | 1.6523 | |
| Zig ZAG (10): | 1.6805 | |
| VORTEX (21): | 1.0317 | |
| Stochastique (14,3,5): | 88.00 | |
| TEMA (21): | 1.6779 | |
| Williams %R (14): | -16.72 | |
| Chande Momentum Oscillator (20): | 0.0070 | |
| Repulse (5,40,3): | 0.0980 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0166 | |
| Courbe Coppock: | 0.74 |
| MA7: | 1.6614 | |
| MA20: | 1.6481 | |
| MA50: | 1.6324 | |
| MA100: | 1.6432 | |
| MAexp7: | 1.6772 | |
| MAexp20: | 1.6718 | |
| MAexp50: | 1.6665 | |
| MAexp100: | 1.6589 | |
| Price / MA7: | +1.16% | |
| Price / MA20: | +1.98% | |
| Price / MA50: | +2.96% | |
| Price / MA100: | +2.28% | |
| Price / MAexp7: | +0.21% | |
| Price / MAexp20: | +0.53% | |
| Price / MAexp50: | +0.85% | |
| Price / MAexp100: | +1.31% |
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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