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GBPCAD

GBPCAD Retracement? 07.07.2023Fibonacci Expansion is used to identify the potential retracement level at 61.8%. The pair is expected to fall after breaking the support levels providing more evidence of a further downward movement. __________________________ Information Regarding Important News and Figures can be found here in our Economic Calendar: mau.bdswiss.com/economic-calenda... Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Tenancy 10, Marina House, Eden Island, Mahe. Payment transactions are managed by BDS Markets (Registration number: 143350).
Short
by Stuart_Cowell
EURCAD I Key resistance broken and more upsideWelcome back! Let me know your thoughts in the comments! ** EURCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
26
GBPCAD - Inverse head and shoulders pattern forming?Analysis: Price last week managed to put in a new higher high showing us that we're in an upwards trend meaning that we only want to be going long on this pair. At this level we saw that price held as support if we look left so we expect that it will hold again. Now for this particular setup we don't have any fib levels which we usual look for but we do instead have another pattern, an inverse head and shoulders pattern. This is a bullish chart pattern which is often followed by a bullish move after the second shoulder is formed which is what we expect and this second shoulder lines up with our support level. To add further to this level of support we have a previous downwards trendline that was broken and now is being retested for support. We expect that buyers will set here and will want to hold this level making it a good buying opportunity. Taking a look at the fundamentals we have the GBP which is the 3rd strongest major currency compared to the CAD which is the 2nd weakest major currency so this is already going in our favour, but we get even more confluence as we dig deeper. As of the most recent report for institutional positioning on the CAD we saw an increase in both long and short positions so this is pretty neutral but this isn't the same story for the GBP. As of the most recent report on the GBP for institutional positioning we saw an increase in long positions and a decrease in short positions showing the strength of the GBP and we expect that this will continue. Overall the technicals and the fundamentals are pointing to bullishness on this pair which is why we have our long bias on GBPCAD. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
26
GBPCAD I Break, retest, and bullish continuationWelcome back! Let me know your thoughts in the comments! ** GBPCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
8
GBPCAD: Waiting For Breakout 🇬🇧🇨🇦 It looks like GBPCAD is preparing for a bullish movement. Analyzing the 4H time frame, I spotted a bullish flag pattern and a confrimed breakout of its upper boundary. The last obstacle for the buyers is the 1.6825 - 1.6850 resistance on a daily. If bulls break and close above that, it will be an important bullish clue. A bullish continuation will follow then at least to 1.692 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
10
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