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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

Download MT4 template file

Trade Setup

#EURCAD
Total Profit: 884 pip
Closed trade(s): 446 pip Profit
Open trade(s): 438 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.4732 (day close price) based on 'Valley' at 2021.07.06 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.4860 touched at 2021.07.08 with 128 pip Profit.
TP2 @ 1.5050 touched at 2021.07.19 with 318 pip Profit.
128 + 318 = 446 pip

Open Profit:
Profit for one trade is 1.4805(current price) - 1.4732(open price) = 73 pip
6 trade(s) still open, therefore total profit for open trade(s) is 73 x 6 = 438 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.

DateJuly 31, 2021 - 15:43
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.45800, beginning of uptrend is expected.
  • We make sure when the resistance at 1.51900 breaks.
  • If the support at 1.45800 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.4897 on 07/27/2021, so more losses to support(s) 1.4725 and minimum to Major Support (1.4580) 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 51.

Take Profits:

  1. 1.4860
  2. 1.5050
  3. 1.5190
  4. 1.5440
  5. 1.5785
  6. 1.5990
  7. 1.6150
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Canadian Dollar (EURCAD) new 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
Euro / Canadian Dollar (EURCAD) Sun, 18 Feb 2024