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Gbpcadforecast

GBP/CAD W1 D1 LONG 10.9.2019Technical view On Weekly timeframe GBP/CAD has showed rejection from very important Supply area. We can see Pin bar was formed last week which we can consider as a buy signal, also we can see pin bar on daily chart. MA10 and MA20 have crossed each other on Daily chart which means there are changing in the trend in play. I will be looking for buy orders on smaller timeframes like H4 and H1 to join new uptrend. As u can see on given example area from 1.6800 to 1.6914 is next key Resistance area for GBP/CAD and there will be my TP. Fundamental view Monday GDP data for GBP was more better then expected which are very good numbers for Great Britan economy, and it seem Great Britan will avoid recession. So we could see recovery in GBP in further days and weeks.
Long
by NecP
1
GBPCAD Fundamental Analysis – August 30th 2019Here are the key factors to keep in mind today for British Pound trades: UK GfK Consumer Confidence: UK GfK Consumer Confidence for August was reported at -14. Economists predicted a figure of -11. Forex traders can compare this to UK GfK Consumer Confidence for July which was reported at -11. UK Lloyds Business Barometer: The UK Lloyds Business Barometer for August was reported at 1. Forex traders can compare this to the UK Lloyds Business Barometer for July which was reported at 13. UK Nationwide House Prices: UK Nationwide House Prices for August are predicted to increase by 0.1% monthly and by 0.7% annualized. Forex traders can compare this to UK Nationwide House Prices for July which increased by 0.3% monthly and by 0.3% annualized. UK Consumer Credit and Net Lending Securities on Dwellings: UK Net Consumer Credit for July is predicted at £1.0B and Net Lending Securities on Dwellings is predicted at £3.7B. Forex traders can compare this to UK Net Consumer Credit for June which was reported at £1.0B and to Net Lending Securities on Dwellings which was reported at £3.7B. UK Mortgage Approvals: UK Mortgage Approvals for July are predicted at 66.1K. Forex traders can compare this to UK Mortgage Approvals for June which were reported at 66.4K. UK M4 Money Supply: UK M4 Money Supply for July is predicted to increase by 0.2% monthly and by 2.4% annualized. Forex traders can compare this to UK M4 Money Supply for June which increased by 0.1% monthly and by 2.3% annualized. UK M4 Money Supply excluding IOFCs 3-Month Annualized for July is predicted to increase by 2.6% annualized. Forex traders can compare this to UK M4 Money Supply excluding IOFCs 3-Month Annualized for June which increased by 2.5% annualized. Here are the key factors to keep in mind today for Canadian Dollar trades: Canadian GDP: The Canadian GDP for June is predicted to increase by 0.1% monthly. Forex traders can compare this to the Canadian GDP for May which increased by 0.2% monthly. The Canadian GDP for the second-quarter is predicted to increase by 3.0% quarterly and by 1.4% annualized. Forex traders can compare this to the Canadian GDP for the first-quarter which increased by 0.4% quarterly and by 1.4% annualized. Canadian Industrial Product Price Index and Canadian Raw Materials Price Index: The Canadian Industrial Product Price Index for July is predicted to increase by 0.4% monthly and the Canadian Raw Materials Price Index is predicted to increase by 1.5% monthly. Forex traders can compare this to the Canadian Industrial Product Price Index for June which decreased by 1.4% monthly and to the Canadian Raw Materials Price Index which decreased by 5.9% monthly. Should price action for the GBPCAD remain inside the or breakout above the 1.6160 to 1.6260 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.6200 Take Profit Zone: 1.6460 – 1.6545 Stop Loss Level: 1.6100 Should price action for the GBPCAD breakdown below 1.6160 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.6100 Take Profit Zone: 1.5875 – 1.5960 Stop Loss Level: 1.6160
by PaxForex
1