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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

Trading suggestion:

Price is in the Trend Hunter Buy Zone (1.35450 to 1.34038).

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.35450)
  • Ending of entry zone (1.34038)

DateJune 12, 2022 - 21:45
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.31803, beginning of uptrend is expected.
  • We make sure when the resistance at 1.41584 breaks.
  • If the support at 1.31803 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 1.33865 on 2022-04-29, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.38075 on 05/24/2022, so more losses to support(s) 1.34038 and minimum to Major Support (1.31803) 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 41.

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) 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