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

#EURCAD
Total Profit: 20851 pip
Closed trade(s): 12126 pip Profit
Open trade(s): 8725 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.
TP11 @ 1.50929 touched at 2023-04-26 with 2105 pip Profit.
195 + 400 + 600 + 786 + 945 + 1073 + 1170 + 1427 + 1618 + 1807 + 2105 = 12126 pip

Open Profit:
Profit for one BUY trade is 1.47332(current price) - 1.29876(open price) = 1745 pip
5 trade(s) still open, therefore total profit for open trade(s) is 1745 x 5 = 8725 pip

#EURCAD
Total Profit: 20851 pip
Closed trade(s): 12126 pip Profit
Open trade(s): 8725 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.
TP11 @ 1.50929 touched at 2023-04-26 with 2105 pip Profit.
195 + 400 + 600 + 786 + 945 + 1073 + 1170 + 1427 + 1618 + 1807 + 2105 = 12126 pip

Open Profit:
Profit for one BUY trade is 1.47332(current price) - 1.29876(open price) = 1745 pip
5 trade(s) still open, therefore total profit for open trade(s) is 1745 x 5 = 8725 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.

DateMay 7, 2023 - 15:42
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 1.50929 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:

  • A peak is formed in daily chart at 1.50975 on 05/04/2023, so more losses to support(s) 1.46042, 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 46.

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. 1.46042
  10. 1.47952
  11. 1.50929
  12. 1.55910
  13. 1.57778
  14. 1.59734
Click on the level to view price action history.

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