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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD
Trade Setup

#AUDCAD
Total Profit: -2001 pip
Closed trade(s): 47 pip Profit
Open trade(s): -2048 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 0.9284 based on 'Vally' at 2021.09.17 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.9331 touched at 2021.10.27 with 47 pip Profit.

Open Profit:
Profit for one trade is 0.9028(current price) - 0.9284(open price) = -256 pip
8 trade(s) still open, therefore total profit for open trade(s) is -256 x 8 = -2048 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJanuary 22, 2022 - 22:12
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.89720, resumption of uptrend is expected.
  • We make sure when the resistance at 0.93740 breaks.
  • If the support at 0.89720 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.9128 on 01/13/2022, so more losses minimum to Major Support (0.8972) 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 39.

Take Profits:

  1. 0.9331
  2. 0.9374
  3. 0.9465
  4. 0.9540
  5. 0.9650
  6. 0.9760
  7. 0.9900
  8. 0.9990
Click on the level to view price action history.