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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

Download MT4 template file

Trade Setup
#EURCAD
Total Profit: -70 pip
Closed trade(s): 62 pip Profit
Open trade(s): -132 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.4798 (day close price) based on 'Valley' at 2019.08.23 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.4860 touched at 2020.02.28 with 62 pip Profit.

Open Profit:
Profit for one trade is 1.4776(current price) - 1.4798(open price) = -22 pip
6 trade(s) still open, therefore total profit for open trade(s) is -22 x 6 = -132 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.

DateFebruary 29, 2020 - 20:26
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.42650 would begin in Midterm.

Technical analysis:

  • The RSI resistance #1 at 65 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.4265 on 02/19/2020, so more gains to resistance(s) 1.4860, 1.4970, 1.5195 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. 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) Sun, 24 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 17 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 10 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 3 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 25 Feb 2024