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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

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Trade Setup
#EURCAD
Total Profit: 3781 pip
Closed trade(s): 2115 pip Profit
Open trade(s): 1666 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 1.5631(current price) - 1.4798(open price) = 833 pip
2 trade(s) still open, therefore total profit for open trade(s) is 833 x 2 = 1666 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 1.5440 is broken, we will close open trades.

DateSeptember 19, 2020 - 20:04
Currentrange bound
Forecastresumption of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1.5440, resumption of uptrend is expected.
  • We make sure when the resistance at 1.5990 breaks.
  • If the support at 1.5440 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.5440 is broken.

Technical analysis:

  • While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.5424 on 09/03/2020, so more gains to resistance(s) 1.5640, 1.5815 and maximum to Major Resistance (1.5990) 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. 1.5195
  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, 24 Oct 2020
Euro / Canadian Dollar (EURCAD) Sat, 17 Oct 2020
Euro / Canadian Dollar (EURCAD) Sat, 10 Oct 2020
Euro / Canadian Dollar (EURCAD) free Sat, 3 Oct 2020
Euro / Canadian Dollar (EURCAD) free Sat, 26 Sep 2020