Trend Line Analysis : 24/07/2015 – GBPCAD UPDATE

Introduction to Trend Line Analysis
Welcome to our newest feature; Trend Line Analysis. Our professional market technician showcases intraday / swing trade setups on a broad spectrum of FX currency pairs. The most effective way to use the setup are:
▪ If indicated price zone holds; consider partial profit taking between 20-40 pips before aiming for the maximum listed target.
▪ If the price zone fails to hold; we likely to see price moving against us. Fail means; the candle closing higher or lower to indicated price zone.

 

GBPCAD

This is an update in reference to earlier posted analysis on GBPCAD. We are refraining to enter shorts at this time and intend to grab them in coming week preferably to mid 2.03XX.
The long trade off 2.016X hold worked out well and hit listed target.

We think the pair can head a little higher to 2.0335-40 and as such we would attempt shorts off there. This resistance is inclining and as such we can expect 2.0355-6X possible plays in the coming week.

GBPCAD 2 hr - Extended resistance upto 2.0335-40
GBPCAD 2 hr – Extended resistance upto 2.0335-40

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