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

#EURCAD
Total Profit: -2223 pip
Closed trade(s): 0 pip Profit
Open trade(s): -2223 pip Profit

Trade Setup:
We opened 13 BUY trade(s) @ 1.3709 based on 'Valley' at 2022.04.22 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Open Profit:
Profit for one trade is 1.3538(current price) - 1.3709(open price) = -171 pip
13 trade(s) still open, therefore total profit for open trade(s) is -171 x 13 = -2223 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.
DateMay 1, 2022 - 12:26
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.34038, beginning of uptrend is expected.
  • We make sure when the resistance at 1.41584 breaks.
  • If the support at 1.34038 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 1.37615 on 2022-03-07 and the trough at 1.35186 on 2022-04-21, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.37595 on 04/25/2022, so more losses minimum to Major Support (1.34038) 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 40.

Take Profits:

  1. 1.37735
  2. 1.39328
  3. 1.40609
  4. 1.41584
  5. 1.44150
  6. 1.46063
  7. 1.47952
  8. 1.50929
  9. 1.53812
  10. 1.55910
  11. 1.57778
  12. 1.59734
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / Canadian Dollar (EURCAD) new Sun, 14 Apr 2024
Euro / Canadian Dollar (EURCAD) Sun, 7 Apr 2024
Euro / Canadian Dollar (EURCAD) Sun, 31 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 24 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURCAD.