GBP/CAD: BULLS ARE FORMING BULLISH MOMENTUM, WHAT NEXT ?

General overview: The pair are back in control and target with an upside continuation. The pair forms bullish view on the chart. The pair uplifts itself with the bullish continuation in the chart. The pair keeps bullish eye on the today’s chart and uplift itself for creating buy signals. The pair finds bulls more aggressive towards the market side. The market creates the higher highs in the market. The pair shows its upside price continuation .The market has shifted towards the bullish side and now targeted the 1.7644 area. The bulls are creating the higher side movement and currently set to1.7573 level in the market. The market finds its breakout level at point 1.7474 and keeps trading towards the higher side in the market.

Technical Analysis: From the technical point of view we can say that market keeps on travelling towards the positive side in the market. The daily head and shoulders are taking shape, which is just as well as the 4-hour chart’s conditions transformed into a bullish scenario for bulls to take the trade yesterday. We can see market creating the higher highs in the market as the minor EMA lines are rising above the SMA lines and create the bullish view in the market. The indiactors are also supporting the market as the RSI leads above the 50 level and create buy signals as well as the MACD also leads above the zero line and creates the buy sign. The bulls waiting for an order the find the perfect support level 1.7643 for the strong buying confirmation. The support of the level is 1.7519 followed by 1.7469 and resistance will be 1.7618 followed 1.7668.

Trade idea: Our traders are advised to buy on 1.7556 levels and target will be 1.7626-1.7680 and stop loss will be 1.7476 level.

 

Disclaimer: This is to be considered a marketing communication only, this does not contain, and should not be construed as containing, investment advice or an investment recommendation or investment research or, a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. Past performance is not a guarantee of or prediction of future performance. Cabana Capitals does not take into account your personal investment objectives or financial situation. Cabana Capitals makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of Cabana Capitals, a third party or otherwise. Consequently, any person acting on it does so entirely at their own risk. This material has not been prepared in accordance with legal requirements promoting the independence of investment research and it is not subject to any prohibition on dealing ahead of the dissemination of investment research. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and may not reflect the opinions of Cabana Capitals. This communication must not be reproduced or further distributed without prior permission.



Leave a Reply