This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
This pair has been on a range for quite some time and once again we are testing the resistance at 1.75500, if the market closes below this resistance we can enter on a short and see if we can break the small range we are in to test the support of 1.7300. If however we can close above this resistance, we might see an impulse to test the resistance at 1.7700, both...
For the past two weeks, we observed CAD weakness against several currencies including the Pound! As far as GBPCAD goes we are approaching a very important zone! A zone that stood steadily against bears since March this year!
The bears' dominance is subjected to lower timeframe price action, especially on H4 and H1! Any reversal pattern or candlestick formation...
Last week I shared GBPCAD Bullish Scenario Analysis ( ). But on Friday, we saw massive bearish moves on this pair that was possibly brought by a fundamental news release! Today
I share the same analysis but on a lower timeframe (H4 Timeframe) which shows bullish...
As we can see, GBPCAD broke the Lower trendline of an ascending channel on the H4, it bounced from the new support Level . We expecting a Bullish continuation to re-test the level listed on the chart.
We taking this trade based on technical analysis and price action.
Please use proper risk management depending on your account size, Use lot sizes based on these...
Buy: GBP / CAD
BUY limit: 1.72600
SL @ 1.72300
TP @ 1.73300
Max Risk: 2%
(When calculating, do not forget about different spreads from Brokers)
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UK Retail Sales for July decreased 2.5% monthly and increased 2.4% annualized. Economists predicted an increase of 0.4% and 6.0%. Forex traders can compare this to UK Retail Sales for June, which increased 0.2% monthly and 9.2% annualized. UK Core Retail Sales for July decreased 2.4% monthly and increased 1.8% annualized. Economists predicted an increase of 0.3%...