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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

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Trade Setup

#AUDCAD
Total Profit: -242 pip
Closed trade(s): 0 pip Profit
Open trade(s): -242 pip Profit
_______________________________________________
Trade Setup:
We opened 11 SELL trade(s) @ 1.0136 based on 'Peak' entry method at 2017.03.02.

Open Profit:
Profit for one trade is 1.0136(open price) - 1.0158(current price) = -22 pip
11 trade(s) still open, therefore total profit for open trade(s) is -22 x 11 = -242 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.0250 to 1.0350). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.0250)
    • Resistance on 03/29/2017
    • Peak on 03/29/2017
    • Resistance on 03/16/2017
    • Resistance on 03/15/2017
    • Resistance on 03/02/2017
    • Resistance on 03/01/2017
    • Peak on 03/01/2017
    • Resistance on 11/15/2016
    • Resistance on 11/14/2016
    • Support on 11/03/2016
    • Resistance on 11/02/2016
    • Resistance on 11/01/2016
    • Resistance on 10/27/2016
    • Resistance on 10/26/2016
    • Resistance on 06/11/2014
    • Resistance on 05/14/2014
    • Resistance on 04/28/2014
    • Resistance on 04/25/2014
    • Resistance on 04/24/2014
    • Trough on 04/23/2014
    • Support on 04/21/2014
    • Support on 04/18/2014
    • Trough on 04/18/2014
    • Support on 04/17/2014
    • Trough on 04/17/2014
    • Support on 04/16/2014
    • Trough on 04/16/2014
    • Trough on 04/15/2014
    • Support on 04/15/2014
    • Resistance on 04/09/2014
    • Resistance on 04/01/2014
    • Resistance on 03/31/2014
    • Resistance on 03/28/2014
    • Resistance on 03/27/2014
    • Resistance on 03/26/2014
    • Peak on 09/28/2012
  • Ending of entry zone (1.0350)
    • Resistance on 11/10/2016
    • Resistance on 11/09/2016
    • Resistance on 04/23/2014
    • Resistance on 04/16/2014
    • Peak on 07/11/2011

DateApril 1, 2017 - 15:51
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 1.0250 on 03/29/2017, so more losses to support(s) 1.0090, 0.9990, 0.9915 and more depths 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 48.

Take Profits:

  1. 1.0090
  2. 0.9990
  3. 0.9915
  4. 0.9835
  5. 0.9745
  6. 0.9670
  7. 0.9520
  8. 0.9390
  9. 0.9325
  10. 0.9170
  11. 0.0000
Click on the level to view price action history.