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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.

DateMarch 5, 2023 - 08:44
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

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

Technical analysis:

  • A trough is formed in daily chart at 0.91010 on 02/27/2023, so more gains to resistance(s) 0.92541, 0.93340, 0.94128 and maximum to Major Resistance (0.95150) 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 45.

Supports and Resistances:

  1. 0.99900
  2. 0.99000
  3. 0.97600
  4. 0.96050
  5. 0.94607
  6. 0.93340
  7. 0.92541
  8. 0.91066
  9. 0.90250
  10. 0.89653
  11. 0.88646
Click on the level to view price action history.