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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

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Trade Setup
#EURCAD
Total Profit: 240 pip
Closed trade(s): 240 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.4795 (day close price) based on 'Valley' at 2019.08.05 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.4860 touched at 2019.08.06 with 65 pip Profit.
TP2 @ 1.4970 touched at 2019.08.07 with 175 pip Profit.
65 + 175 = 240 pip

6 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.4750 to 1.4575). 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 (1.4750)
    • Support on 04/26/2017
    • Support on 04/27/2017
    • Support on 06/16/2017
    • Support on 06/21/2017
    • Support on 06/22/2017
    • Support on 06/23/2017
    • Support on 07/03/2017
    • Support on 08/17/2017
    • Support on 08/18/2017
    • Support on 08/22/2017
    • Support on 08/25/2017
    • Support on 09/04/2017
    • Resistance on 09/06/2017
    • Resistance on 09/19/2017
    • Resistance on 09/20/2017
    • Resistance on 09/21/2017
    • Resistance on 09/22/2017
    • Resistance on 09/29/2017
    • Resistance on 10/02/2017
    • Resistance on 10/09/2017
    • Support on 10/20/2017
    • Support on 11/08/2017
    • Support on 11/09/2017
    • Support on 11/10/2017
    • Support on 10/03/2018
    • Trough on 10/04/2018
    • Support on 10/04/2018
    • Resistance on 07/05/2019
    • Resistance on 07/10/2019
    • Support on 08/06/2019
  • Ending of entry zone (1.4575)
    • Resistance on 03/27/2017
    • Resistance on 07/17/2017
    • Resistance on 07/25/2017
    • Support on 07/27/2017
    • Support on 07/28/2017
    • Resistance on 09/15/2017
    • Support on 07/25/2019
    • Support on 08/01/2019
DateAugust 10, 2019 - 21:36
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.45750, beginning of uptrend is expected.
  • We make sure when the resistance at 1.49700 breaks.
  • If the support at 1.45750 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.4990 on 08/07/2019, so more losses to support(s) 1.4750 and minimum to Major Support (1.4575) 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 54.

Take Profits:

  1. 1.4860
  2. 1.4970
  3. 1.5080
  4. 1.5195
  5. 1.5285
  6. 1.5640
  7. 1.6150
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / Canadian Dollar (EURCAD) Sun, 14 Apr 2024
Euro / Canadian Dollar (EURCAD) Sun, 7 Apr 2024
Euro / Canadian Dollar (EURCAD) Sun, 31 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 24 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURCAD.