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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

Download MT4 template file

Trade Setup

#AUDCAD
Total Profit: -252 pip
Closed trade(s): 0 pip Profit
Open trade(s): -252 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 0.9725 (day close price) based on 'Peak' at 2018.07.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Open Profit:
Profit for one trade is 0.9725(open price) - 0.9761(current price) = -36 pip
7 trade(s) still open, therefore total profit for open trade(s) is -36 x 7 = -252 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateJuly 15, 2018 - 10:17
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.99350, beginning of downtrend is expected.
  • We make sure when the support at 0.95550 breaks.
  • If the resistance at 0.99350 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 0.9815 on 07/10/2018, so more losses to support(s) 0.9665, 0.9610 and minimum to Major Support (0.9555) 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 50.

Take Profits:

  1. 0.9665
  2. 0.9610
  3. 0.9555
  4. 0.9455
  5. 0.9325
  6. 0.9170
Click on the level to view price action history.
Symbol Released Current Forecast
Australian Dollar / Canadian Dollar (AUDCAD) free Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 7 Apr 2024
History
Daily-Trading-Opportunities on AUDCAD.