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Gbp-cad

GBP/CAD at 50% retracement level.GBP/CAD at retracement level. Following a large drawdown of 160 pips, the GBP/CAD is at the 0.5 Fibonacci retracement level. Previous false breakouts have occurred on the 4th June and 8th June - price action tends to repeat itself so this breakout below the trend channel is likely to be false too. The hourly stochastic is giving an oversold signal, along with the %K line crossing above the %D line, leaving a high probability buy trade. Place a buy stop at 1.708 to confirm the trend, scaling in a position may also be a good choice. WATCHOUT: both the United Kingdom's and Canada's CPI inflation reports are released this week (Wednesday). Predictions show that disinflation may occur in the UK (0.5% down from 0.8%), potentially leading to more contractionary monetary policy by the BofE. Meanwhile, although rated low-level Canada is predicted to recover from its deflationary period potentially pushing the GBP/CAD down.
Long
by harryspencer
1
GBPCAD CLOSE TO BREAKOUTHello, my fellow traders, hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into the analysis.           As we can see, the price is inside ascending triangle, possible breakout will be upside. Let us know your views on this in the comment section. Thank you all.          There is good news for our followers. We will be analyzing on-demand. So, let us know which pair you want our analysis on and we will get it for you. Do like and follow us.           Ryan.R..Lopes
by Ryan_lopes
2
GBPCAD - SWING - 08. JUNE. 2020Welcome to our weekly trade setup ( GBPCAD )! - 1 HOUR Strong waving market back at range mid. 4 HOUR Overall good price action and break below main sr level. DAILY Expecting another push to the downside towards previous lows! - FOREX SWING SELL GBPCAD ENTRY LEVEL @ 1.70040 SL @ 1.70750 TP @ 1.69030 Max Risk. 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Short
by DACapitalTrading
3
Does OPEC meeting results support the Canadian Dollar ? Everyone is waiting for what the OPEC and non-OPEC allies meeting will come out today 6/06/2020. So then they agree to reduce production or increase the rate of production reduction, it will be a strong support for oil prices and thus will support the rise of the Canadian dollar. And If there is no agreement ,the petroleum price will descend, and therefore it is possible to push the Canadian Dollar down. Technically, the pair is moving inside a right triangle. Any breakout of the upper side of the triangle at 1.7120 represents an opportunity to buy. Any break of the lower side of the triangle and the uptrend represents an opportunity to sell. Buying Targets: the first target is 1.7346, and the second target is 1.7625 Selling targets: the first target is 1.6640, the second target is 1.6503, and the third target is 1.6176.  
by TradingFleet
GBPCAD - SWING - 01. JUNE. 2020Welcome to our weekly trade setup ( GBPCAD )! - 1 HOUR Turning bullish again, good long entries! 4 HOUR Price takeout of range lows, looking for upside movement shortly. DAILY Takeout of previous lows with instant reaction! - FOREX SWING BUY GBPCAD ENTRY LEVEL @ 1.69530 SL @ 1.68590 TP @ 1.70870 Max Risk. 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Long
by DACapitalTrading
16