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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.47835 to 1.48801). 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 (1.47835)
  • Ending of entry zone (1.48801)

DateSeptember 17, 2023 - 09:17
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.47835, beginning of downtrend is expected.
  • We make sure when the support at 1.42331 breaks.
  • If the resistance at 1.47835 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.48184 on 08/30/2023, so more losses to support(s) 1.43645 and minimum to Major Support (1.42331) 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 32.

Take Profits:

  1. 1.44836
  2. 1.43645
  3. 1.42331
  4. 1.39304
  5. 1.37421
  6. 1.35881
  7. 1.33880
  8. 1.31853
  9. 1.30426
  10. 1.28750
  11. 1.21250
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Canadian Dollar (EURCAD) Sun, 9 Jun 2024
Euro / Canadian Dollar (EURCAD) Sun, 2 Jun 2024
Euro / Canadian Dollar (EURCAD) Sun, 26 May 2024
Euro / Canadian Dollar (EURCAD) Sun, 19 May 2024
Euro / Canadian Dollar (EURCAD) Sun, 19 May 2024