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

#EURCAD
Total Profit: 20803 pip
Closed trade(s): 10021 pip Profit
Open trade(s): 10782 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.
TP10 @ 1.47952 touched at 2023-03-21 with 1807 pip Profit.
195 + 400 + 600 + 786 + 945 + 1073 + 1170 + 1427 + 1618 + 1807 = 10021 pip

Open Profit:
Profit for one BUY trade is 1.47849(current price) - 1.29876(open price) = 1797 pip
6 trade(s) still open, therefore total profit for open trade(s) is 1797 x 6 = 10782 pip

#EURCAD
Total Profit: 20803 pip
Closed trade(s): 10021 pip Profit
Open trade(s): 10782 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.
TP10 @ 1.47952 touched at 2023-03-21 with 1807 pip Profit.
195 + 400 + 600 + 786 + 945 + 1073 + 1170 + 1427 + 1618 + 1807 = 10021 pip

Open Profit:
Profit for one BUY trade is 1.47849(current price) - 1.29876(open price) = 1797 pip
6 trade(s) still open, therefore total profit for open trade(s) is 1797 x 6 = 10782 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.

DateMarch 26, 2023 - 00:00
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 1.49352 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 1.49376 on 2023-03-23, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • A peak is formed in daily chart at 1.49375 on 03/23/2023, so more losses to support(s) 1.46063, 1.44150 and minimum to Major Support (1.42362) 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 62.

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) new Sun, 19 May 2024
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