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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

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Trade Setup
#EURCAD
Total Profit: -1617 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1617 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.4805 based on 'Valley' at 2019.08.23 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Open Profit:
Profit for one trade is 1.4574(current price) - 1.4805(open price) = -231 pip
7 trade(s) still open, therefore total profit for open trade(s) is -231 x 7 = -1617 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.

DateNovember 9, 2019 - 17:47
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1.4415, beginning of uptrend is expected.
  • We make sure when the resistance at 1.4970 breaks.
  • If the support at 1.4415 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 1.4636 on 2019-07-08 and the trough at 1.44135 on 2019-10-01, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • A peak is formed in daily chart at 1.4715 on 10/31/2019, so more losses minimum to Major Support (1.4415) 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 49.

Take Profits:

  1. 1.4860
  2. 1.4970
  3. 1.5195
  4. 1.5440
  5. 1.5640
  6. 1.6150
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Canadian Dollar (EURCAD) new Sat, 11 Jul 2020
Euro / Canadian Dollar (EURCAD) Sat, 4 Jul 2020
Euro / Canadian Dollar (EURCAD) free Sat, 27 Jun 2020
Euro / Canadian Dollar (EURCAD) free Sat, 20 Jun 2020
Euro / Canadian Dollar (EURCAD) free Sat, 13 Jun 2020