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

#EURCAD
Total Profit: 1385 pip
Closed trade(s): 65 pip Profit
Open trade(s): 1320 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 1.38185(current price) - 1.37086(open price) = 110 pip
12 trade(s) still open, therefore total profit for open trade(s) is 110 x 12 = 1320 pip

#EURCAD
Total Profit: 11953 pip
Closed trade(s): 1981 pip Profit
Open trade(s): 9972 pip Profit

Trade Setup:
We opened 16 BUY trades @ 1.29876 based on 'Valley' entry method at 2022-08-26.

Closed Profit:
TP1 @ 1.31830 touched at 2022-08-31 with 195 pip Profit.
TP2 @ 1.33880 touched at 2022-09-29 with 400 pip Profit.
TP3 @ 1.35881 touched at 2022-10-25 with 600 pip Profit.
TP4 @ 1.37735 touched at 2022-11-15 with 786 pip Profit.
195 + 400 + 600 + 786 = 1981 pip

Open Profit:
Profit for one BUY trade is 1.38185(current price) - 1.29876(open price) = 831 pip
12 trade(s) still open, therefore total profit for open trade(s) is 831 x 12 = 9972 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.

DateNovember 20, 2022 - 15:32
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.28750, resumption of uptrend is expected.
  • We make sure when the resistance at 1.39328 breaks.
  • If the support at 1.28750 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.32705 on 11/04/2022, so more gains maximum to Major Resistance (1.39328) 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. 1.31853
  2. 1.33880
  3. 1.35881
  4. 1.37735
  5. 1.39328
  6. 1.40609
  7. 1.41584
  8. 1.44150
  9. 1.46063
  10. 1.47952
  11. 1.50929
  12. 1.53812
  13. 1.55910
  14. 1.57778
  15. 1.59734
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Canadian Dollar (EURCAD) free Sun, 29 Jan 2023
Euro / Canadian Dollar (EURCAD) free Sun, 22 Jan 2023
Euro / Canadian Dollar (EURCAD) free Sun, 15 Jan 2023
Euro / Canadian Dollar (EURCAD) free Sun, 8 Jan 2023
Euro / Canadian Dollar (EURCAD) free Mon, 2 Jan 2023