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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

Download MT4 template file

Trade Setup

#AUDCAD
Total Profit: 1176 pip
Closed trade(s): 615 pip Profit
Open trade(s): 561 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.
TP3 @ 0.9555 touched at 2018.08.10 with 170 pip Profit.
TP4 @ 0.9455 touched at 2018.08.14 with 270 pip Profit.
60 + 115 + 170 + 270 = 615 pip

Open Profit:
Profit for one trade is 0.9725(open price) - 0.9538(current price) = 187 pip
3 trade(s) still open, therefore total profit for open trade(s) is 187 x 3 = 561 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.
  • If the Midterm level 0.96100 is broken, we will close open trades.
DateAugust 25, 2018 - 15:14
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 a downtrend wave below 0.96100 would begin in Midterm.
  • We will close our open trades, if the Midterm level 0.96100 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.9610 on 08/21/2018, so more losses to support(s) 0.9455, 0.9325, 0.9170 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 43.

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.