tradingmatter
Long

GBPCAD GOING FOR NEW HIGHS?

FX:GBPCAD   British Pound / Canadian Dollar
12 0 0
DATE: 17/04/2014

RENKO CHART
Prices moved up 4 RENKO blocks today due to the good economic data from UK
Moving close to the high established since January
Very good up slope with wide gaps between the 2 EMA
RSI still a distance from the oversold region

CANDLESTICK CHART
A cup and handle formation forming. A break above the year high should send this pair on a bullish trend

CONCLUSION
KEEP CLOSE EYE ON THIS PAIR AS IT PRESENTS A GOOD LONG OPPORTUNITY.
LOOKING AT CURRENCY HEATMAP SHOWS WEAK PERFORMANCE BY THE CAD, THEREFORE HIGH CHANCE OF THE HIGH BEING BROKEN. BUT ALL REMAINS TO BE SEEN.
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