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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

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Trade Setup
#AUDCAD
Total Profit: 56 pip
Closed trade(s): 56 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 0.8989 (day close price) based on 'Two-day reversal candle (Hammer)' at 2020.01.22 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.9045 touched at 2020.01.23 with 56 pip Profit.

8 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.8905 to 0.8870). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.8905)
    • Support on 05/28/2010
    • Resistance on 05/31/2010
    • Support on 07/01/2010
    • Support on 07/05/2010
    • Support on 07/06/2010
    • Support on 08/07/2019
    • Trough on 08/26/2019
    • Support on 08/26/2019
    • Support on 08/30/2019
    • Support on 10/15/2019
    • Support on 10/16/2019
    • Support on 10/17/2019
    • Support on 10/24/2019
    • Support on 10/25/2019
    • Support on 10/28/2019
    • Trough on 01/08/2020
    • Support on 01/08/2020
  • Ending of entry zone (0.8870)
    • Support on 07/06/2010
DateJanuary 25, 2020 - 21:08
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.88350, beginning of uptrend is expected.
  • We make sure when the resistance at 0.91450 breaks.
  • If the support at 0.88350 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 0.8905 on 01/08/2020, so more gains to resistance(s) 0.8980, 0.9045, 0.9105 and maximum to Major Resistance (0.9145) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 43.

Take Profits:

  1. 0.8980
  2. 0.9045
  3. 0.9105
  4. 0.9145
  5. 0.9225
  6. 0.9310
  7. 0.9395
  8. 0.9610
  9. 0.9775
Click on the level to view price action history.
Symbol Released Current Forecast
Australian Dollar / Canadian Dollar (AUDCAD) free Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 7 Apr 2024
History
Daily-Trading-Opportunities on AUDCAD.