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Weekly forecast Australian Dollar vs. Canadian Dollar technical chart
Symbol AUDCAD

Download MT4 template file

Trade Setup

#AUDCAD
Total Profit: 140 pip
Closed trade(s): 140 pip Profit
Open trade(s): 0 pip Profit
_______________________________________________
Trade Setup:
We opened 9 BUY trade(s) @ 0.9720 (day close price) based on 'Valley' at 2017.12.12 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.9745 touched at 2017.12.13 with 25 pip Profit.
TP2 @ 0.9835 touched at 2017.12.14 with 115 pip Profit.
25 + 115 = 140 pip

7 other break-even trades closed at entry price, therefore no profit no loss.
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.9685 to 0.9600). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (0.9685)
    • Resistance on 12/11/2017
    • Resistance on 11/22/2017
    • Resistance on 11/21/2017
    • Resistance on 11/20/2017
    • Resistance on 11/17/2017
    • Support on 11/14/2017
    • Support on 09/12/2017
    • Support on 09/06/2017
    • Support on 01/09/2017
    • Support on 01/05/2017
    • Support on 01/04/2017
    • Resistance on 01/02/2017
    • Support on 12/26/2016
    • Support on 12/23/2016
    • Support on 12/22/2016
    • Support on 12/21/2016
    • Support on 12/20/2016
    • Resistance on 07/05/2016
    • Resistance on 07/04/2016
    • Resistance on 07/01/2016
    • Resistance on 06/30/2016
    • Resistance on 06/29/2016
    • Resistance on 06/27/2016
    • Resistance on 03/01/2016
    • Resistance on 02/29/2016
    • Resistance on 11/25/2015
    • Resistance on 08/17/2015
    • Support on 08/05/2015
    • Resistance on 05/20/2015
    • Resistance on 05/15/2015
    • Resistance on 04/10/2015
    • Resistance on 04/09/2015
    • Resistance on 04/01/2015
    • Support on 03/30/2015
    • Support on 03/05/2015
    • Support on 02/19/2015
    • Support on 02/10/2015
    • Support on 02/09/2015
    • Support on 02/06/2015
    • Support on 02/05/2015
    • Resistance on 12/02/2014
    • Resistance on 12/01/2014
    • Resistance on 11/27/2014
    • Support on 11/24/2014
    • Support on 10/13/2014
    • Peak on 11/25/2013
  • Ending of entry zone (0.9600)
    • Support on 12/06/2017
    • Support on 01/02/2017
    • Support on 06/30/2016
    • Support on 06/29/2016
    • Support on 06/24/2016
    • Resistance on 06/21/2016
    • Resistance on 06/16/2016
    • Resistance on 05/06/2016
    • Resistance on 05/05/2016
    • Resistance on 05/04/2016
    • Support on 03/02/2016
    • Support on 03/01/2016

DateSat, 01/06/2018 - 20:08
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

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

Technical analysis:

  • A peak is formed in daily chart at 0.9850 on 01/04/2018, so more losses to support(s) 0.9745 and minimum to Trend Hunter Buy Zone (0.9685 to 0.9600) 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 46.

Take Profits:

  1. 0.9745
  2. 0.9835
  3. 0.9900
  4. 0.9990
  5. 1.0090
  6. 1.0165
  7. 1.0250
  8. 1.0350
Click on the level to view price action history.