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

#EURCAD
Total Profit: 18539 pip
Closed trade(s): 8214 pip Profit
Open trade(s): 10325 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.
TP5 @ 1.39328 touched at 2022-11-28 with 945 pip Profit.
TP6 @ 1.40609 touched at 2022-11-28 with 1073 pip Profit.
TP7 @ 1.41584 touched at 2022-12-02 with 1170 pip Profit.
TP8 @ 1.44150 touched at 2022-12-09 with 1427 pip Profit.
TP9 @ 1.46063 touched at 2023-01-19 with 1618 pip Profit.
195 + 400 + 600 + 786 + 945 + 1073 + 1170 + 1427 + 1618 = 8214 pip

Open Profit:
Profit for one BUY trade is 1.44632(current price) - 1.29876(open price) = 1475 pip
7 trade(s) still open, therefore total profit for open trade(s) is 1475 x 7 = 10325 pip

#EURCAD
Total Profit: 7971 pip
Closed trade(s): 2693 pip Profit
Open trade(s): 5278 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.
TP2 @ 1.39328 touched at 2022-11-28 with 224 pip Profit.
TP3 @ 1.40609 touched at 2022-11-28 with 352 pip Profit.
TP4 @ 1.41584 touched at 2022-12-02 with 449 pip Profit.
TP5 @ 1.44150 touched at 2022-12-09 with 706 pip Profit.
TP6 @ 1.46063 touched at 2023-01-19 with 897 pip Profit.
65 + 224 + 352 + 449 + 706 + 897 = 2693 pip

Open Profit:
Profit for one BUY trade is 1.44632(current price) - 1.37086(open price) = 754 pip
7 trade(s) still open, therefore total profit for open trade(s) is 754 x 7 = 5278 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.
  • If the Midterm level 1.42362 is broken, we will close open trades.
DateJanuary 29, 2023 - 21:23
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.42362, resumption of uptrend is expected.
  • We make sure when the resistance at 1.46063 breaks.
  • If the support at 1.42362 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.42362 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.45929 on 2022-12-15 and the peak at 1.46391 on 2023-01-19, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.46405 on 01/25/2023, so more losses to support(s) 1.44150 and minimum to Major Support (1.42362) 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 52.

Take Profits:

  1. 1.31853
  2. 1.33880
  3. 1.35881
  4. 1.37735
  5. 1.39290
  6. 1.40609
  7. 1.41610
  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, 26 Mar 2023
Euro / Canadian Dollar (EURCAD) free Sat, 18 Mar 2023
Euro / Canadian Dollar (EURCAD) free Sun, 12 Mar 2023
Euro / Canadian Dollar (EURCAD) free Sun, 5 Mar 2023
Euro / Canadian Dollar (EURCAD) free Sun, 26 Feb 2023
History
Daily-Trading-Opportunities on EURCAD.