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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.6595 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 (1.6595)
    • Support on 12/16/2016
    • Support on 12/14/2016
    • Support on 12/13/2016
    • Support on 12/08/2016
    • Support on 11/30/2016
    • Support on 11/28/2016
    • Support on 11/22/2016
    • Support on 11/21/2016
    • Support on 11/10/2016
    • Resistance on 11/08/2016
    • Support on 08/16/2016
    • Support on 08/15/2016
  • 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 17, 2016 - 21:34
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 minimum to Trend Hunter Buy Zone (1.6595 to 1.6395) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 48.

Take Profits:

  1. 1.6845
  2. 1.6985
  3. 1.7230
  4. 1.7540
  5. 1.7820
  6. 1.8100
  7. 1.8355
  8. 1.8660
  9. 1.8980
  10. 1.9270
  11. 1.9765
  12. 2.0090
  13. 2.0325
  14. 2.0965
Click on the level to view price action history.