Is the growth of the pair quotes possible?

angel may

Recommendation for GBP/CAD: Buy Buy Stop : Above 1,75 Stop Loss : Below 1,717 Indicator Value Signal RSI   Neutral MACD   Sell MA(200)   Buy Fractals   Buy Parabolic SAR   Buy Bollinger Bands   Neutral   Chart Analysis On the daily timeframe, GBPCAD: D1 approached the uptrend support […]

Recommendation for GBP/CAD: Buy

Buy Stop : Above 1,75

Stop Loss : Below 1,717

Indicator Value Signal
RSI   Neutral
MACD   Sell
MA(200)   Buy
Fractals   Buy
Parabolic SAR   Buy
Bollinger Bands   Neutral

 

Chart Analysis

Chart

On the daily timeframe, GBPCAD: D1 approached the uptrend support line. It could not break it down and continues to grow. A number of technical analysis indicators generated signals for further growth. We do not rule out a bullish move if GBPCAD rises above its latest high: 1.75. This level can be used as an entry point. We can place a stop loss below the Parabolic signal, the last lower fractal, the lower Bollinger line and the 200-day moving average line: 1.717. After opening a pending order, we should move the stop loss following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop-loss, moving it in the direction of the bias. If the price meets the stop loss (1.717) without activating the order (1.75), it is recommended to delete the order: some internal changes in the market have not been taken into account.

 

Fundamental Analysis

In this review, we propose to consider the British pound vs. the Canadian dollar. Is the growth of GBPCAD quotes possible? Such dynamics is observed with the weakening of the Canadian dollar and the strengthening of the British pound.


Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.

Source Article

Next Post

World Insurance Associates Acquires Advantage Benefit Concepts Inc.

World Insurance Associates LLC (WIA), a Top 100 Insurance Agency, announced today that it acquired Advantage Benefit Concepts Inc. of Blackwood, NJ on April 1, 2020. Terms of the transaction were not disclosed. Advantage Benefit Concepts Inc. specializes in Employee Benefit services. They provide health and dental insurance packages in […]