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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

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.
DateNovember 19, 2023 - 04:28
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 0.87430, continuation of uptrend is expected.
  • We make sure when the resistance at 0.90320 breaks.
  • If the support at 0.87430 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • A trough is formed in daily chart at 0.87520 on 11/13/2023, so more gains to resistance(s) 0.89408 and maximum to Major Resistance (0.90320) 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 65.

Take Profits:

  1. 0.88173
  2. 0.89408
  3. 0.90320
  4. 0.91066
  5. 0.92134
  6. 0.93095
  7. 0.93904
  8. 0.94607
  9. 0.95471
Click on the level to view price action history.
Symbol Released Current Forecast
Australian Dollar / Canadian Dollar (AUDCAD) new free Sat, 2 Dec 2023
Australian Dollar / Canadian Dollar (AUDCAD) free Sat, 25 Nov 2023
Australian Dollar / Canadian Dollar (AUDCAD) Fri, 24 Nov 2023
Australian Dollar / Canadian Dollar (AUDCAD) free Sun, 19 Nov 2023
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 12 Nov 2023
History
Daily-Trading-Opportunities on AUDCAD.