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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.9525 to 0.9425). 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 (0.9525)
    • Support on 05/08/2015
    • Support on 06/15/2015
    • Support on 06/16/2015
    • Support on 06/19/2015
    • Support on 06/24/2015
    • Support on 06/25/2015
    • Resistance on 06/29/2015
    • Resistance on 07/09/2015
    • Resistance on 07/14/2015
    • Support on 08/12/2015
    • Support on 08/13/2015
    • Resistance on 09/17/2015
    • Resistance on 09/18/2015
    • Resistance on 10/23/2015
    • Support on 04/28/2016
    • Support on 04/29/2016
    • Support on 05/02/2016
    • Resistance on 06/01/2016
    • Resistance on 06/03/2016
    • Resistance on 06/07/2016
    • Resistance on 06/09/2016
    • Support on 06/22/2016
    • Support on 06/24/2016
    • Support on 08/10/2018
    • Resistance on 08/15/2018
    • Support on 08/27/2018
    • Trough on 11/23/2018
    • Support on 11/23/2018
  • Ending of entry zone (0.9425)
    • Support on 12/17/2013
    • Support on 12/18/2013
    • Support on 12/19/2013
    • Support on 12/26/2013
    • Support on 01/02/2014
    • Support on 12/17/2014
    • Support on 12/22/2014
    • Support on 12/26/2014
    • Support on 12/29/2014
    • Support on 04/15/2015
    • Support on 04/16/2015
    • Support on 04/17/2015
    • Support on 04/20/2015
    • Support on 04/21/2015
    • Support on 04/23/2015
    • Support on 04/24/2015
    • Support on 06/10/2015
    • Support on 06/11/2015
    • Support on 06/17/2015
    • Support on 06/18/2015
    • Support on 07/03/2015
    • Support on 07/07/2015
    • Support on 07/08/2015
    • Support on 07/09/2015
    • Support on 07/10/2015
    • Support on 07/14/2015
    • Support on 07/29/2015
    • Support on 07/30/2015
    • Support on 07/31/2015
    • Support on 08/24/2015
    • Support on 08/26/2015
    • Support on 08/27/2015
    • Support on 08/28/2015
    • Support on 09/18/2015
    • Support on 09/21/2015
    • Resistance on 09/30/2015
    • Resistance on 10/07/2015
    • Support on 10/09/2015
    • Support on 10/13/2015
    • Support on 10/14/2015
    • Support on 10/22/2015
    • Support on 10/23/2015
    • Resistance on 11/03/2015
    • Resistance on 11/04/2015
    • Resistance on 11/05/2015
    • Resistance on 11/06/2015
    • Resistance on 05/25/2016
    • Resistance on 05/27/2016
    • Support on 06/07/2016
    • Support on 06/13/2016
    • Support on 06/14/2016
    • Support on 08/15/2018
    • Support on 08/29/2018
    • Resistance on 08/31/2018
    • Resistance on 09/19/2018
    • Resistance on 09/21/2018
    • Resistance on 09/24/2018
    • Resistance on 11/01/2018

DateDecember 1, 2018 - 18:52
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • The current trend is uptrend and the forecast is continuation of uptrend.

Technical analysis:

  • The RSI resistance #1 at 53 is broken, so the probability of continuation of uptrend is increased.
  • While the RSI support #2 at 53 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 0.9525 on 11/23/2018, so more gains to resistance(s) 0.9810, 0.9935, 1.0245 and more heights 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 71.

Take Profits:

  1. 0.9570
  2. 0.9610
  3. 0.9670
  4. 0.9810
  5. 0.9935
  6. 1.0245
  7. 1.0350
Click on the level to view price action history.