Back to the Forex Alerts day's list
Alert - 14:10 (CET) - GbpCad
|
The GbpCad is trading at 1.8561 Canadian Dollars per Pound. This session, the pair is ranging from 1.8529 to 1.8772. The current price is under yesterday's close at 1.8693. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The supports are set at 1.8000, 1.7500 and 1.7000. Given the ample movements of the pair, the resistances are watched, just in case, at 1.9581 (November 3rd high), 2.0068 (October 31st high) and 2.0736 (October 29th high).
During most of 2008, the pair ranged from 1.9300 to 2.0500. The fact that the crude barrel has recovered slightly intrasession and the BoE will probably cut rates tomorrow, made the GbpCad to break the support at 1.9300. Canada exports crude and its currency is subject to the crude price swings.
Checking the hourly graphics again, the current price is on the 0.00% (1.8508) and under the 23.60% (2.0147) Fibonacci retracement lines. The average volatility per hour is 260 pips and the 60-minute Relative Strenght Index (RSI) is at 31 points, after being very oversold.
|
|
ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency and precious metals trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance.
|