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GBPCAD

GBPCAD Will Go Higher! Long! Here is our detailed technical review for GBPCAD. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.674. Considering the today's price action, probabilities will be high to see a movement to 1.700. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBP/CAD Extends Bullish Momentum, Targets New HighsThe GBP/CAD exchange rate remains within a bullish channel, with recent price action surpassing the 1.6800 level. This morning, the pair continues to exhibit upward momentum following a reversal around the 1.6700 mark. Notably, there is a strong correlation between GBP/CAD and EUR/USD during this period, which provides robust indications of a prolonged upward trajectory. As a result, market forecasts are suggesting a new target at 1.6900, signaling further potential gains. Given this outlook, we are actively seeking a long setup in GBP/CAD, anticipating continued bullish movement. The recent breakthrough above 1.6800 and the subsequent price action reaffirm the positive sentiment surrounding the pair. Traders and investors are closely monitoring these developments and aligning their strategies accordingly, aiming to capitalize on the upward momentum and potentially ride the trend towards the projected target at 1.6900. It is important to remain vigilant and monitor any significant shifts or market developments that may impact the GBP/CAD pair. Nonetheless, the current technical and correlation analysis support a favorable long position, reflecting the market's sentiment and expectations for continued upward movement in the GBP/CAD exchange rate.
Long
by FOREXN1
3
Some comments in the unstable market!GBPCAD: Although limiting wage increases should, in theory, help the Bank of England (BoE) tame inflation, such a decision could pave the way for union strikes and put the UK economy in a tougher spot than it already is. Meanwhile, the uncertainty surrounding this issue is likely to cause investors to stay away from Pound Sterling. GBPJPY: On the Japanese Yen front, soft inflation data has added some pressure. Scrutiny of Japan’s inflation report conveyed that contribution from higher oil prices is fading and domestic demand is contributing effectively. This could be the outcome of higher wages due to consistent monetary stimulus by the BoJ. EURJPY: The European Central Bank's forum on central banking in Sintra has started, with many central bank officials from around the world in attendance. ECB President Lagarde will speak several times, as will other ECB policymakers, starting on Tuesday. If the ECB wants to send a message to the market this week, it has an opportunity. The most likely scenario is to stick to the current "data-dependent" mantra, signaling another rate hike in July. NZDCHF: The 4-hour chart highlights a possible Butterfly formation with the next leg being CD to the upside. We have formed a bullish Morning Doji Star pattern at the base. This formation is often seen at the bottom of a trend and the start of a new upside bias.
by Sphyn-Trader
1
Weekly Trade Planning Session 25th June 2023Greetings, fellow traders! In today's weekly planning session, we emphasized the significance of focusing on the trading process rather than solely fixating on the outcome. It's crucial to prioritize the steps and strategies involved in trading for long-term success. During this session, we delved into the portfolio selection process utilizing the CSI (Currency Strength Index) across various timeframes—weekly, daily, and 4-hour—to gather essential information about the major currency pairs. By calculating the cumulative scores, we ranked the pairs accordingly, considering their overall strength. Additionally, we employed the WavesOfSuccess Strong Trend Scanner to analyze the 4-hour charts of different currency pairs. This allowed us to identify potential Buy pairs and Sell pairs based on strong trending patterns. Pairs analyzed during the session were as follows: Buy pairs: GBPUSD, AUDUSD, GBPCAD Sell pair: USDCHF We hope that the insights shared during this session prove helpful to your trading journey. Wishing you a fruitful and successful trading week ahead. May you be blessed with favorable outcomes. Happy trading!
by Charts247TradingAcademy
2
GBPCAD - DAILY CHART TIME FRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
by Tradelikemee
GBPCAD LONG AND THEN SHORT AFTER NEWSOn GBPCAD, we noticed a significant manipulation this morning following the sterling data. These data caused the price to decrease, creating a potential entry point at 1.6875. Therefore, we expect a absorption of all the liquidity left in the market, with a possible short entry and a target risk-to-reward ratio of 1:2 in the area of 1.6790. We would be pleased to hear your point of view. Greetings from Nicola, CEO of Forex48 Trading Academy.
Short
by Forex48_TradingAcademy