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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

Download MT4 template file

Trade Setup

#AUDCAD
Total Profit: 1995 pip
Closed trade(s): 1570 pip Profit
Open trade(s): 425 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.
TP5 @ 0.9325 touched at 2018.09.11 with 400 pip Profit.
TP6 @ 0.9170 touched at 2018.10.03 with 555 pip Profit.
60 + 115 + 170 + 270 + 400 + 555 = 1570 pip

Open Profit:
Profit for one trade is 0.9725(open price) - 0.9300(current price) = 425 pip
1 trade(s) still open, therefore total profit for open trade(s) is 425 x 1 = 425 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 0.93250 is broken, we will close open trades.
DateOctober 31, 2018 - 10:07
Currentdowntrend
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.91050, beginning of uptrend is expected.
  • We make sure when the resistance at 0.93250 breaks.
  • If the support at 0.91050 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.93250 is broken.

Technical analysis:

  • While the RSI resistance #1 at 53 is not broken, the probability of price increase would be too low.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

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.