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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

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Trade Setup

#AUDCAD
Total Profit: 751 pip
Closed trade(s): 121 pip Profit
Open trade(s): 630 pip Profit
_______________________________________________
Trade Setup:
We opened 12 SELL trade(s) @ 1.0188 based on 'Peak' entry method at 2017.05.03.

Closed Profit:
TP1 @ 1.0165 touched at 2017.05.04 with 23 pip Profit.
TP2 @ 1.0090 touched at 2017.05.08 with 98 pip Profit.
23 + 98 = 121 pip

Open Profit:
Profit for one trade is 1.0188(open price) - 1.0125(current price) = 63 pip
10 trade(s) still open, therefore total profit for open trade(s) is 63 x 10 = 630 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 04/26/2017
    • Resistance on 04/25/2017
    • 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 05/03/2017
    • Resistance on 05/02/2017
    • 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

DateMay 13, 2017 - 17:03
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 1.0340 on 05/02/2017, 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. 1.0165
  2. 1.0090
  3. 0.9990
  4. 0.9915
  5. 0.9835
  6. 0.9745
  7. 0.9670
  8. 0.9520
  9. 0.9390
  10. 0.9325
  11. 0.9170
  12. 0.0000
Click on the level to view price action history.