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

#EURCAD
Total Profit: 19891 pip
Closed trade(s): 19891 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.
5 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 1553 x 5 = 7765 pip
195 + 400 + 600 + 786 + 945 + 1073 + 1170 + 1427 + 1618 + 1807 + 2105 = 19891 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.49355 to 1.50929). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.49355)
  • Ending of entry zone (1.50929)
DateMay 21, 2023 - 07:20
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.50929, beginning of downtrend is expected.
  • We make sure when the support at 1.42362 breaks.
  • If the resistance at 1.50929 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.47480 on 05/12/2023, 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 41.

Take Profits:

  1. 1.47952
  2. 1.46042
  3. 1.44150
  4. 1.41610
  5. 1.40609
  6. 1.39290
  7. 1.37735
  8. 1.35881
  9. 1.33880
  10. 1.31853
  11. 1.21250
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / Canadian Dollar (EURCAD) Sun, 14 Apr 2024
Euro / Canadian Dollar (EURCAD) Sun, 7 Apr 2024
Euro / Canadian Dollar (EURCAD) Sun, 31 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 24 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURCAD.