GBPCAD GOING FOR NEW HIGHS?
DATE: 17/04/2014
RENKO CHART
Prices moved up 4 RENKO blocks today due to the good economic data from UK
Moving close to the high established since January
Very good up slope with wide gaps between the 2 EMA
RSI still a distance from the oversold region
CANDLESTICK CHART
A cup and handle formation forming. A break above the year high should send this pair on a bullish trend
CONCLUSION
KEEP CLOSE EYE ON THIS PAIR AS IT PRESENTS A GOOD LONG OPPORTUNITY.
LOOKING AT CURRENCY HEATMAP SHOWS WEAK PERFORMANCE BY THE CAD, THEREFORE HIGH CHANCE OF THE HIGH BEING BROKEN. BUT ALL REMAINS TO BE SEEN.
RENKO CHART
Prices moved up 4 RENKO blocks today due to the good economic data from UK
Moving close to the high established since January
Very good up slope with wide gaps between the 2 EMA
RSI still a distance from the oversold region
CANDLESTICK CHART
A cup and handle formation forming. A break above the year high should send this pair on a bullish trend
CONCLUSION
KEEP CLOSE EYE ON THIS PAIR AS IT PRESENTS A GOOD LONG OPPORTUNITY.
LOOKING AT CURRENCY HEATMAP SHOWS WEAK PERFORMANCE BY THE CAD, THEREFORE HIGH CHANCE OF THE HIGH BEING BROKEN. BUT ALL REMAINS TO BE SEEN.
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