Languages

website utilities

 

Follow us:
+1 (646) 48 000 22 (New York, USA)
You are not logged in, you need subscription to view up-to-date forecasts, please Login if you have already subscribed, otherwise please Subscribe
You can still continue browsing delayed forecasts on the sidebar list.
Weekly forecast Australian Dollar vs. Canadian Dollar technical chart
Symbol AUDCAD

Download MT4 template file

Trade Setup

#AUDCAD
Total Profit: 765 pip
Closed trade(s): 175 pip Profit
Open trade(s): 590 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...

Closed Profit:
TP1 @ 0.9665 touched at 2018.07.26 with 60 pip Profit.
TP2 @ 0.9610 touched at 2018.08.01 with 115 pip Profit.
60 + 115 = 175 pip

Open Profit:
Profit for one trade is 0.9725(open price) - 0.9607(current price) = 118 pip
5 trade(s) still open, therefore total profit for open trade(s) is 118 x 5 = 590 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.

DateSat, 08/04/2018 - 16:22
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 0.9935, beginning of downtrend is expected.
  • We make sure when the support at 0.9555 breaks.
  • If the resistance at 0.9935 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.9815 on 07/10/2018, so more losses minimum to Major Support (0.9555) 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 36.

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.