News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇺🇸 Fed Williams Speech due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-25
  • 🇺🇸 Durable Goods Orders Ex Transp MoM (AUG) Actual: 0.4% Expected: 1.2% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2020-09-25
  • 🇺🇸 Durable Goods Orders MoM (AUG) Actual: 0.4% Expected: 1.5% Previous: 11.2% https://www.dailyfx.com/economic-calendar#2020-09-25
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.29%, while traders in EUR/GBP are at opposite extremes with 64.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Pr6fmzDXyZ
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.07% 🇬🇧GBP: -0.07% 🇯🇵JPY: -0.08% 🇨🇭CHF: -0.14% 🇦🇺AUD: -0.22% 🇪🇺EUR: -0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vRMbDk8nMT
  • Heads Up:🇺🇸 Durable Goods Orders Ex Transp MoM (AUG) due at 12:30 GMT (15min) Expected: 1.2% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2020-09-25
  • Heads Up:🇺🇸 Durable Goods Orders MoM (AUG) due at 12:30 GMT (15min) Expected: 1.5% Previous: 11.2% https://www.dailyfx.com/economic-calendar#2020-09-25
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/3Wked6GBOp https://t.co/0N5t9QITVe
  • Iranian oil exports rose to nearly 1.5mbpd in September, defying US sanctions, according to Tanker Tracker
  • UK PM Spokesman says UK has had useful exchanges with EU In recent weeks $GBP
GBPCAD Pending Breakout Entry

GBPCAD Pending Breakout Entry

2015-10-14 13:40:00
Walker England, Forex Trading Instructor
Share:

Market Condition: Pending Breakout

Target 1: 2x ATR 1.9373

Target 2: 4x ATR 1.9013

Invalidation: Higher Highs over 2.0250

GBPCAD 1Day Chart

GBPCAD Pending Breakout Entry

(Created using Marketscope 2.0 Charts)

The GBPCAD has declined as much as 1239 pips from the pairs 2015 high. Today, the pair is attempting to retrace from a new low found at 1.9733. This value is currently acting as support, and traders can use this value to pinpoint the pair’s next breakout. Current ATR measures 180 pips, and in the event of a lower low, traders can use this to identify potential trading targets. 2x ATR would place initial targets near 1.9373.

In the event that prices continue to retrace, this would at least temporarily stall any attempts at a bearish breakout. In this instance, if prices move back above 2.0250, a broader bullish retracement may be in play on the creation of a new higher high. At this point, entry orders to sell the GBPCAD can be deleted and traders can begin to look for other trend based trading opportunities.

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES