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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateOctober 16, 2021 - 12:10
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.46570, resumption of downtrend is expected.
  • We make sure when the support at 1.42700 breaks.
  • If the resistance at 1.46570 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of downtrend is increased.
  • A peak is formed in daily chart at 1.5098 on 09/20/2021, so more losses minimum to Major Support (1.4270) 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 25.

Supports and Resistances:

  1. 1.6150
  2. 1.5990
  3. 1.5785
  4. 1.5440
  5. 1.5050
  6. 1.4860
  7. 1.3800
  8. 1.3020
  9. 1.2125
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