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

#AUDCAD
Total Profit: 4837 pip
Closed trade(s): 4837 pip Profit

Trade Setup:
We opened 12 BUY trades @ 0.88143 based on 'Vally' entry method at 2022-11-10, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 0.88646 touched at 2022-11-11 with 51 pip Profit.
TP2 @ 0.89653 touched at 2022-11-15 with 151 pip Profit.
TP3 @ 0.90250 touched at 2022-11-24 with 211 pip Profit.
TP4 @ 0.91050 touched at 2022-11-29 with 291 pip Profit.
TP5 @ 0.92545 touched at 2022-12-09 with 441 pip Profit.
TP6 @ 0.93340 touched at 2023-01-04 with 520 pip Profit.
TP7 @ 0.94610 touched at 2023-01-25 with 647 pip Profit.
5 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 505 x 5 = 2525 pip
51 + 151 + 211 + 291 + 441 + 520 + 647 = 4837 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
DateFebruary 26, 2023 - 12:23
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.95150, beginning of downtrend is expected.
  • We make sure when the support at 0.89653 breaks.
  • If the resistance at 0.95150 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.93299 on 2022-12-13 and the peak at 0.95471 on 2023-01-26, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 0.93095 on 02/21/2023, so more losses to support(s) 0.91066, 0.90250 and minimum to Major Support (0.89653) 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 38.

Supports and Resistances:

  1. 0.99900
  2. 0.99000
  3. 0.97600
  4. 0.96050
  5. 0.94607
  6. 0.93340
  7. 0.92545
  8. 0.91066
  9. 0.90250
  10. 0.89653
  11. 0.88646
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.