Pound Canadian

Good morning,

I was speaking this morning with a friend of mine Donal who I know many of you have met. I have known Donal for about year now and he has been trying very hard to consistently trade with profit from one of my strategies. Today it seems he has finaly done it. As he put it, he had an "aha" moment and it has all come together. Donal well done to you and I hope you go on from here to do even better with your analysis and trading.

While talking with him he gave me three analysis and the best of them all was the GBPCAD which I am going to share with you now. I am not going to share the analysis based on my strategy that he originaly spoke with me about, I am going to analyze it in Advanced GET.

The uptrend was halted at the figure zone and had a divergence with MACD and has now broken through the RTC and has now arrived at 0.382 but as we speak it has been getting weaker. If this pattern continues then we could see 0.50 level as the next support. This is
where we may see the reversal or continuation occur.

I have shorted this soon after speaking with Donal and am in profit already. I have moved my stop to break even (although it may have been a little too early) but I am now risk free. The chart below shows the cross for your own analysis.


Chart courtesy of Advanced GET. Data provided by eSignal.

Forex analysis by Javid