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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD
Trade Setup

#EURCAD
Total Profit: 1284 pip
Closed trade(s): 132 pip Profit
Open trade(s): 1152 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.4474 (day close price) based on 'Valley' at 2021.11.26 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.4606 touched at 2021.12.20 with 132 pip Profit.

Open Profit:
Profit for one trade is 1.4602(current price) - 1.4474(open price) = 128 pip
9 trade(s) still open, therefore total profit for open trade(s) is 128 x 9 = 1152 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 6, 2022 - 13:20
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.41010, beginning of uptrend is expected.
  • We make sure when the resistance at 1.46060 breaks.
  • If the support at 1.41010 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.43032 on 2021-10-18 and the trough at 1.41176 on 2022-01-27, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.4118 on 01/27/2022, so more gains maximum to Major Resistance (1.4606) 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 68.

Take Profits:

  1. 1.4606
  2. 1.4718
  3. 1.4795
  4. 1.4925
  5. 1.5093
  6. 1.5381
  7. 1.5591
  8. 1.5778
  9. 1.5973
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