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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.9285 to 0.9200). 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 (0.9285)
    • Support on 09/24/2015
    • Support on 09/25/2015
    • Support on 09/11/2018
    • Support on 09/12/2018
    • Resistance on 10/01/2018
    • Resistance on 10/11/2018
    • Resistance on 10/12/2018
    • Resistance on 10/15/2018
    • Support on 10/19/2018
    • Resistance on 10/24/2018
    • Resistance on 10/25/2018
    • Support on 01/03/2019
    • Resistance on 05/21/2019
    • Support on 05/28/2019
    • Resistance on 06/10/2019
    • Support on 06/09/2020
    • Support on 06/11/2020
    • Support on 06/12/2020
    • Support on 06/15/2020
    • Support on 06/18/2020
    • Support on 06/19/2020
  • Ending of entry zone (0.9200)
    • Resistance on 10/09/2018
    • Support on 10/11/2018
    • Support on 10/24/2018
    • Support on 10/25/2018
    • Support on 10/26/2018
    • Support on 01/03/2019
    • Trough on 05/22/2019
    • Support on 05/22/2019
    • Support on 06/13/2019
    • Support on 06/14/2019
    • Resistance on 06/19/2019
    • Resistance on 06/24/2019
    • Resistance on 06/26/2019
    • Resistance on 06/28/2019
    • Resistance on 07/01/2019
    • Resistance on 07/03/2019
    • Resistance on 07/04/2019
    • Resistance on 07/24/2019
    • Resistance on 05/26/2020
    • Support on 06/02/2020

DateJuly 26, 2020 - 13:29
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.92000 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • While the RSI support #1 at 53 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 0.9635 on 07/22/2020, so more losses to support(s) 0.9505, 0.9445, 0.9285 and minimum to Major Support (0.9200) 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 62.

Take Profits:

  1. 0.9445
  2. 0.9505
  3. 0.9610
  4. 0.9775
  5. 0.9935
Click on the level to view price action history.