GBPCAD Weekly Forex Forecast 12th November to 18th November by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 1.6595, beginning of uptrend is expected.
We make sure when the resistance at 1.7285 breaks.
If the support at 1.6595 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

The RSI bounced from the resistance #1 at 62 and it prevented price from more gains.
A peak is formed in daily chart at 1.7255 on 11/07/2018, so more losses to support(s) 1.7055, 1.6825 and minimum to Major Support (1.6595) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.

Share This