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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

Download MT4 template file

Trade Setup
#EURCAD
Total Profit: 2987 pip
Closed trade(s): 2115 pip Profit
Open trade(s): 872 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.
TP2 @ 1.4970 touched at 2020.03.03 with 172 pip Profit.
TP3 @ 1.5195 touched at 2020.03.06 with 397 pip Profit.
TP4 @ 1.5440 touched at 2020.03.09 with 642 pip Profit.
TP5 @ 1.5640 touched at 2020.03.09 with 842 pip Profit.
62 + 172 + 397 + 642 + 842 = 2115 pip

Open Profit:
Profit for one trade is 1.5234(current price) - 1.4798(open price) = 436 pip
2 trade(s) still open, therefore total profit for open trade(s) is 436 x 2 = 872 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.
  • If the Midterm level 1.5050 is broken, we will close open trades.
  • Price may also reach 1.5050, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateJuly 4, 2020 - 18:42
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1.5050, resumption of uptrend is expected.
  • We make sure when the resistance at 1.5990 breaks.
  • If the support at 1.5050 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.5050 is broken.

Technical analysis:

  • While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.5425 on 06/29/2020, so more losses to support(s) 1.5195 and minimum to Major Support (1.5050) 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 48.

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, 8 Aug 2020
Euro / Canadian Dollar (EURCAD) free Sat, 1 Aug 2020
Euro / Canadian Dollar (EURCAD) Sat, 25 Jul 2020
Euro / Canadian Dollar (EURCAD) free Sat, 18 Jul 2020
Euro / Canadian Dollar (EURCAD) free Sat, 11 Jul 2020