We are looking to sell the aftermath of CAD Unemployment/Employment News for GBPCAD. TP: 1.735-1.733
Diagonal support has been tested several times since March 19, as GBPCAD continues in its uptrend. I expect it to soon hit the horizontal resistance at the 1.74 level before reversing towards former support levels, as shown. A good entry could be after the H4 candle confirming a rejection of the horizontal resistance. Let me know what you think!
GBPCAD analysis with an interesting long Setup. We can notice that the buyers have just come back in force on this pair today. Be careful though if we reach the lowest of this day a short is possible for a square closure. Like, comment and subscribe!
Welcome to our daily trade setup ( GBPCAD )! - 1 HOUR Strong bullish price action after taking out 1.72600 Psychological area. 4 HOUR Very bullish market in small pullback before heading back up. OVERALL We might see a push back to previous highs or even higher, great long entries! - FOREX INTRADAY BUY GBPCAD ENTRY LEVEL @ 1.73760 SL @ 1.72810 TP @...
Both this pair and EURCAD will be bearish as long as the Canadian dollar continues to show strength. Here are the TPs for both. My aim is for it to be bearish. But I move where the market moves. BEAR TPS: • 1.73132 • 1.71867 • 1.71354 • 1.69933 BULL TPS: • 1.74523 • 1.75927 • 1.76611 • 1.77635
On a Weekly level, you'll notice that it has reached a level of support and has touched 100% of the retracement. We have about 3 wicks indicating the power of the sellers pushing that price on the Weekly Time frame, so as long as it doesn't break that level it is safe to say that it will continue to drop. On the Daily, there is an obvious BOS(Break of Structure)...
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1.7455). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a...
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1.7455). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a...
GBPCAD rejected from key level which corresponds to 78.6% Fibonacci level of last bearish wave at level 1.7722 Pair retested broken minor uptrendline Price is based below SMA 100 on H1 frame MACD shows bearish momentum It's expected for coming bearish wave to target major uptrendline and HVN near level 1.7050
Welcome to our weekly trade setup ( GBPCAD )! - 1 HOUR Bullish reaction to 1.74000 4 HOUR Prices broke back above mid term bullish trend area, looking for another push to the upside. OVERALL PA increasing with good entries for long positions. - FOREX INTRADAY BUY GBPCAD ENTRY LEVEL @ 1.75510 SL @ 1.74060 TP @ 1.77510 Max Risk. 0.5% - 1%! (Remember to add a...
GBPCAD has respected the Fibonacci retracement levels in the past very well as you can see it from the chart also from the current level it has to take the support at a 61% level. GBPCAD is also trading in rising wedge pattern. Long side trade can be initiate for a shorter time from the current price level & the target will be a meeting point of the resistance...
🔸 Weekly Chart Explanation: . . 🔸 Price broke the Descending Trendline. . 🔸 After some weeks, it did a pullback towards the broken trendline. . 🔸 There was a strong rejection, so, we consider it has potential to reach the Resistance Zone. . 🔸 We will look for a lower timeframe bullish setup. 🔸DAILY CHART ANALYSIS:
Will be interesting to see if GBPCAD will retrace from current levels and respect the weekly resistance area which it is in now. Keeping a close eye this week ahead for possible downside.
this idea based on fundamental analysis , so strong and powerful good risk reward /enjoy it :)
PAIR IN FOCUS: GBPCAD PLAN: LONG ENTRY: 1.71800 STOP LOSS: 1.70840 TP 1: 1.72580 TP 2: 1.73370 TP 3: 1.74040 REMEMBER TO MANAGE YOUR RISK!