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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.6690 to 1.6395). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.6690)
    • Support on 12/01/2016
    • Support on 11/30/2016
    • Support on 11/17/2016
    • Support on 11/16/2016
    • Support on 11/15/2016
    • Resistance on 11/09/2016
    • Resistance on 11/07/2016
    • Support on 11/04/2016
    • Resistance on 10/07/2016
    • Support on 08/12/2016
    • Trough on 07/08/2016
    • Trough on 07/07/2016
    • Support on 07/07/2016
    • Peak on 10/17/2013
    • Peak on 10/14/2013
    • Peak on 10/10/2013
    • Peak on 10/09/2013
  • Ending of entry zone (1.6395)
    • Trough on 11/09/2016
    • Support on 11/09/2016
    • Resistance on 10/27/2016
    • Resistance on 10/26/2016
    • Support on 10/07/2016
    • Support on 09/24/2013
    • Support on 09/19/2013
    • Support on 09/16/2013
    • Resistance on 09/05/2013
    • Resistance on 09/03/2013
    • Resistance on 09/02/2013
    • Resistance on 08/27/2013
    • Resistance on 08/26/2013
    • Resistance on 08/23/2013
    • Resistance on 08/22/2013
    • Resistance on 08/21/2013
    • Resistance on 10/04/2011
    • Resistance on 08/19/2011
    • Resistance on 08/18/2011
    • Resistance on 11/19/2010
    • Resistance on 11/18/2010
    • Resistance on 11/01/2010
    • Resistance on 09/30/2010
    • Resistance on 09/28/2010
    • Resistance on 08/31/2010
    • Resistance on 08/30/2010
    • Resistance on 08/25/2010
    • Resistance on 08/24/2010
    • Resistance on 08/16/2010
    • Resistance on 08/12/2010
    • Resistance on 08/11/2010
    • Resistance on 08/10/2010
    • Resistance on 08/09/2010
    • Resistance on 08/06/2010
    • Resistance on 02/18/2010
    • Support on 02/17/2010
    • Support on 02/16/2010
    • Support on 02/15/2010
    • Support on 02/12/2010
    • Trough on 01/08/2010
    • Trough on 01/07/2010
    • Support on 01/07/2010
DateDecember 4, 2016 - 09:16
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of uptrend.

Technical analysis:

  • A peak is formed in daily chart at 1.6885 on 11/25/2016, so more losses to support(s) 1.6885 and minimum to Trend Hunter Buy Zone (1.6690 to 1.6395) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 58.

Take Profits:

  1. 1.7025
  2. 1.7230
  3. 1.7540
  4. 1.7820
  5. 1.8100
  6. 1.8355
  7. 1.8660
  8. 1.8980
  9. 1.9270
  10. 1.9765
  11. 2.0090
  12. 2.0325
  13. 2.0965
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Canadian Dollar (GBPCAD) Sun, 14 Apr 2024
British Pound / Canadian Dollar (GBPCAD) Sun, 7 Apr 2024
British Pound / Canadian Dollar (GBPCAD) Sat, 30 Mar 2024
British Pound / Canadian Dollar (GBPCAD) Mon, 25 Mar 2024
British Pound / Canadian Dollar (GBPCAD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPCAD.