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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

Download MT4 template file

Trade Setup
#AUDCAD
Total Profit: 10 pip
Closed trade(s): 0 pip Profit
Open trade(s): 10 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.9196 (day close price) based on 'Hammer' at 2019.06.18 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Open Profit:
Profit for one trade is 0.9197(current price) - 0.9196(open price) = 1 pip
10 trade(s) still open, therefore total profit for open trade(s) is 1 x 10 = 10 pip
#AUDCAD
Total Profit: -1736 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1736 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 0.9445 (day close price) based on 'Valley' at 2019.05.07 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Open Profit:
Profit for one trade is 0.9197(current price) - 0.9445(open price) = -248 pip
7 trade(s) still open, therefore total profit for open trade(s) is -248 x 7 = -1736 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateJune 29, 2019 - 19:55
Currentrange bound
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 0.96100 breaks.
  • If the support at 0.91050 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.91975 on 2019-05-22 and the trough at 0.9105 on 2019-06-21, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.9105 on 06/21/2019, so more gains to resistance(s) 0.9225, 0.9310, 0.9395 and maximum to Major Resistance (0.9610) 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 42.

Take Profits:

  1. 0.9225
  2. 0.9310
  3. 0.9395
  4. 0.9480
  5. 0.9610
  6. 0.9775
  7. 0.9915
  8. 1.0090
  9. 1.0350
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.