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Tag Archives: GBP/CAD
Today in forex trading the GBP/CAD and NZD/CAD moved higher on CAD (Canadian Dollar) weakness. The GBP/CAD should continue higher on the H4 and possibly D1 time frames, but the major trend on this pair is down on the MN time frame. The GBP/CAD still has upside potential going forward for 1 or 2 two days. The NZD/CAD moved higher but this pair is inside of various levels of resistance, for that reason we would scale out lots or exit this trade. The trading signals for the CAD pairs is shown below from The Forex Heatmap®, along with the price chart movement. The heatmap provides trading signals for 28 currency pairs and can be used for day trading or entering new or existing trends on the higher time frames.
The GBP/CAD trend analysis is shown below. This pair is trending down on the W1 time frame. It has a current support level and price alert point at 1.9515. Traders can set a price alert there. After the alert hits look for a verification sell signal on The Forex Heatmap®. We see no nearby support below there and substantial pip potential down to the 1.8550 area, or possibly lower. Both the alert price and next major support area are noted on the trend analysis chart below. This analysis demonstrates how we prepare our daily forex trading plans for 28 currency pairs. We trade with the major trends of the forex market.
Today in forex trading the GBP pairs had a buy alert on the Forex Heatmap®. The GBP (British Pound) was strong and the commodity based currencies like the AUD, NZD and CAD were weak. Therefore, the The GBP/CAD, GBP/ AUD and GBP/NZD all had strong moves to the upside. The GBP/AUD and GBP/NZD moved up, but these pairs are not really in trends so these look like short term moves on the smaller time frames. However, the GBP/CAD is trending up and should continue higher to the next resistance at the 2.0900 area. Today’s visual trading alerts from The Forex Heatmap® are shown below. The heatmap gives traders live buy and sell signals for 28 pairs and is a visual map of the forex market.
Today in forex trading the GBP/CAD had a buy signal on The Forex Heatmap®. The CAD (Canadian Dollar) weakness was consistent on all pairs. This pair is starting a new trend on the D1 time frame, so it has good pip potential upside going forward for several days. The longer time frames are mixed on this pair. We will continue to plan additional buys on this pair in the upcoming trading plans, and we will treat this as a swing trade on the D1 time frame. The heatmap can be used to enter short term or long term trades based on the existing trends of the market.
The GBP/CAD is trending up on the larger time frames, line the MN time frame. This pair has sold off on the D1 time frame but is now reversing back up into the main trend. Traders can set a buy alert at 2.0440. Above this price look for a buy signal on this pair in the main session using The Forex Heatmap®. This pair has some near term resistance up to the 2.0440 area, but past there this pair has potential to the 2.0950 area. This is around 500 pips of overall potential. Check the larger time frames like the MN time frame to verify the longer term uptrend. The trend analysis charts you see below are exponential moving averages we give to our clients.
The GBP/CAD analysis below shows that this pair has broken through short term resistance and is now trending up again on the largest time frames. The current short term resistance level is at 1.8730. We would set a price alert here. When the alert hits we would look for more buy signals going forward above this price on The Forex Heatmap®. The upside potential on this trend is still very good. The Canadian Dollar (CAD) interest rate news today could signal more CAD weakness ahead, which would continue to drive this pair higher. The analysis of the GBP/CAD was performed with multiple time frame analysis.
Today in currency trading the CAD (Canadian Dollar) weakness was visible on all pairs. There was also some British Pound (GBP) strength in the market today. This drove the GBP/CAD strong to the upside. The movement was very good, but we would consider this a short term trade because it is inside of resistance layers on the higher time frames. So we would close out some lots or exit the trade completely. The trading signals for the CAD you see below are from The Forex Heatmap®, which provides live buy and sell signals for 28 currency pairs.
The GBP/CAD H4 time frame is shown on the chart below. This pair could reverse back up in the main session tomorrow on this time frame as well as the D1 time frame. Check the news calendar for the British Pound (GBP) news drivers tomorrow. Current resistance and price alarm point is 1.7780, shown by the yellow line. Set a buy alert here and when the alert hits check The Forex Heatmap® for a buy signal. The target resistance area is 1.8050. The majority of the exotic pairs on the market have been retracing against their major trends, so this up cycle would be expected to be 2-3 days, similar to the recent retracements and up cycles on the GBP/AUD and GBP/NZD. This happens frequently when pairs on the same currency group follow each other like dominoes falling. The H4 time frame on the chart below is exponential moving averages set up on meta trader.
The GBP/CAD trend chart indicates that this pair is trending down on the larger time frames, like the W1 time frame shown below. This pair has hundreds of pips of potential and we would start looking for sell signals going forward. The current support level is just below 1.8000. You can set a price alert here, and when the alert goes off verify your sell entry with The Forex Heatmap®. The British Pound (GBP) pairs are currently trending on many of the pairs we follow. The chart analysis you see below is performed with multiple time frame analysis by individual currency.
Today in forex trading, The Forex Heatmap® gave trade alerts for consistent GBP strength. The GBP/CAD moved higher as the British Pound (GBP) strengthened across the board. The EUR/GBP also moved lover, and this pair is trending lower on the higher time frames. The GBP/NZD is cycling up on the H4 time frame and should continue up to the 1.9650 area resistance area. The alert system you see below is The Forex Heatmap®, which provides live visual trade alerts for 28 pairs and eight major currencies.