GBP/CAD - 1H - Technical analysis published on 02/27/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.7131 CAD
My targets
1.7201 CAD (+0.0033)
1.7321 CAD (+0.0153)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/CAD as long as the price remains well above 1.7131 CAD. The buyers' bullish objective is set at 1.7201 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.7321 CAD. If there is any crossing, the next objective would be the resistance located at 1.7771 CAD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.9
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/CAD rating is 1.7168 CAD. On the day, this instrument gained +0.25% and was traded between 1.7095 CAD and 1.7173 CAD over the period. The price is currently at +0.43% from its lowest and -0.03% from its highest.1.7095
1.7173
1.7168
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/CAD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 16 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.7079 | 1.7131 | 1.7165 | 1.7168 | 1.7201 | 1.7321 | 1.7771 |
| Change (%) | -0.52% | -0.22% | -0.02% | - | +0.19% | +0.89% | +3.51% |
| Change | -0.0089 | -0.0037 | -0.0003 | - | +0.0033 | +0.0153 | +0.0603 |
| Level | Major | Minor | Intermediate | - | Minor | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.7020 | 1.7057 | 1.7091 | 1.7128 | 1.7162 | 1.7199 | 1.7233 |
| Camarilla | 1.7106 | 1.7112 | 1.7119 | 1.7125 | 1.7132 | 1.7138 | 1.7145 |
| Woodie | 1.7019 | 1.7056 | 1.7090 | 1.7127 | 1.7161 | 1.7198 | 1.7232 |
| Fibonacci | 1.7057 | 1.7084 | 1.7101 | 1.7128 | 1.7155 | 1.7172 | 1.7199 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6857 | 1.6915 | 1.7015 | 1.7073 | 1.7173 | 1.7231 | 1.7331 |
| Camarilla | 1.7072 | 1.7086 | 1.7101 | 1.7115 | 1.7130 | 1.7144 | 1.7159 |
| Woodie | 1.6878 | 1.6926 | 1.7036 | 1.7084 | 1.7194 | 1.7242 | 1.7352 |
| Fibonacci | 1.6915 | 1.6975 | 1.7013 | 1.7073 | 1.7133 | 1.7171 | 1.7231 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6371 | 1.6579 | 1.6805 | 1.7013 | 1.7239 | 1.7447 | 1.7673 |
| Camarilla | 1.6912 | 1.6951 | 1.6991 | 1.7031 | 1.7071 | 1.7111 | 1.7150 |
| Woodie | 1.6380 | 1.6584 | 1.6814 | 1.7018 | 1.7248 | 1.7452 | 1.7682 |
| Fibonacci | 1.6579 | 1.6745 | 1.6847 | 1.7013 | 1.7179 | 1.7281 | 1.7447 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 69.46 | |
| MACD (12,26,9): | 0.0006 | |
| Directional Movement: | 13.6766 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 1.7140 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7103 | |
| Elder Ray (13): | 0.0030 | |
| Super Trend (3,10): | 1.7110 | |
| Zig ZAG (10): | 1.7170 | |
| VORTEX (21): | 1.1012 | |
| Stochastique (14,3,5): | 88.97 | |
| TEMA (21): | 1.7142 | |
| Williams %R (14): | -5.13 | |
| Chande Momentum Oscillator (20): | 0.0048 | |
| Repulse (5,40,3): | 0.2011 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0008 | |
| Courbe Coppock: | 0.15 |
| MA7: | 1.7086 | |
| MA20: | 1.7035 | |
| MA50: | 1.7014 | |
| MA100: | 1.6975 | |
| MAexp7: | 1.7144 | |
| MAexp20: | 1.7133 | |
| MAexp50: | 1.7122 | |
| MAexp100: | 1.7102 | |
| Price / MA7: | +0.48% | |
| Price / MA20: | +0.78% | |
| Price / MA50: | +0.91% | |
| Price / MA100: | +1.14% | |
| Price / MAexp7: | +0.14% | |
| Price / MAexp20: | +0.20% | |
| Price / MAexp50: | +0.27% | |
| Price / MAexp100: | +0.39% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on GBP/CAD at the time of the analysis were as follows:
-
GBPCAD Sports a Trend That Belies Uncertainty and High Risk of Volatility (Quick Take Video)
-
Webinar: Central Bank Weekly: GBP, CAD Rebound as BOE, BOC Rate Hike Odds Rise: 7/5/18
-
Why I'm looking to buy GBPCAD: Coleman
-
Oil & Brexit GBP CAD
-
Webinar: Price Action Setups GBP, CAD, DXY
This member declared not having a position on this financial instrument or a related financial instrument.
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