GBPCAD - Weekly Forecast - Technical Analysis & Trading Ideas!
Midterm forecast (Daily Time-frame):
While the price is below the resistance 1.82310, beginning of downtrend is expected.
Technical analysis:
Take Profits:
Short-term forecast (H4 Time-frame):
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While the price is below the resistance 1.82310, beginning of downtrend is expected.
Technical analysis:
- A peak is formed in daily chart at 1.82320 on 12/19/2024, so more losses to support(s) 1.79228, 1.78439, 1.76819 and minimum to Major Support (1.74790) is expected.
Take Profits:
- 1.79228
- 1.78439
- 1.76819
- 1.75765
- 1.74790
- 1.72705
- 1.70900
- 1.69267
- 1.67670
- 1.65599
- 1.63703
- 1.60894
Short-term forecast (H4 Time-frame):
- A Head and Shoulder Reversal Pattern has formed and the neckline has also been broken.
- Price is touching the neckline again.
- It is very likely that the downward wave will start from this area.
__________________________________________________________________
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Let us know how you see this.
Have a successful week,
ForecastCity Support Team
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High Accurate forecasts by 4CastMachine AI
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👉Follow.ForecastCity.com
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✅36 Forex Pairs
✅175 Cryptos
✅16 Indices
✅Gold, Silver...
👉Follow.ForecastCity.com
FREE Telegrams:
👉t.me/ForecastCity_com
👉t.me/Free_Forex_AI
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.