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

#EURCAD
Total Profit: -7231 pip
Closed trade(s): 65 pip Profit
Open trade(s): -7296 pip Profit

Trade Setup:
We opened 13 BUY trades @ 1.37086 based on 'Valley' entry method at 2022-04-22, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 1.37735 touched at 2022-05-24 with 65 pip Profit.

Open Profit:
Profit for one BUY trade is 1.31014(current price) - 1.37086(open price) = -608 pip
12 trade(s) still open, therefore total profit for open trade(s) is -608 x 12 = -7296 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.

DateAugust 14, 2022 - 19:59
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.29590, beginning of uptrend is expected.
  • We make sure when the resistance at 1.37735 breaks.
  • If the support at 1.29590 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.32725 on 08/10/2022, so more losses minimum to Major Support (1.29590) 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 45.

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, 2 Oct 2022
Euro / Canadian Dollar (EURCAD) free Sat, 24 Sep 2022
Euro / Canadian Dollar (EURCAD) Sun, 18 Sep 2022
Euro / Canadian Dollar (EURCAD) Sun, 11 Sep 2022
Euro / Canadian Dollar (EURCAD) Sun, 4 Sep 2022