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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

Download MT4 template file

Trade Setup

#EURCAD
Total Profit: 5810 pip
Closed trade(s): 5810 pip Profit
Open trade(s): 0 pip Profit
_______________________________________________
Trade Setup:
We opened 13 BUY trade(s) @ 1.4142 (day close price) based on 'Two-Day Reversal Candle (Hammer)' at 2017.04.13 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/EURCAD...

Closed Profit:
TP1 @ 1.4255 touched at 2017.04.18 with 113 pip Profit.
TP2 @ 1.4405 touched at 2017.04.19 with 263 pip Profit.
TP3 @ 1.4630 touched at 2017.04.24 with 488 pip Profit.
TP4 @ 1.4810 touched at 2017.04.25 with 668 pip Profit.
TP5 @ 1.4950 touched at 2017.05.02 with 808 pip Profit.
TP6 @ 1.5120 touched at 2017.05.05 with 978 pip Profit.
113 + 263 + 488 + 668 + 808 + 978 = 3318 pip

Closed Profit:
Profit for one trade is 1.4498(current price) - 1.4142(open price) = 356 pip
7 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 356 x 7 = 2492 pip
_______________________________________________

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJuly 15, 2017 - 21:18
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • The current trend is downtrend and the forecast is continuation of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 1.4830 on 07/07/2017, so more losses to support(s) 1.4405, 1.4255, 1.4050 and more depths 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 37.

Supports and Resistances:

  1. 1.2125
  2. 1.2450
  3. 1.3020
  4. 1.3385
  5. 1.3650
  6. 1.3800
  7. 1.4015
  8. 1.4050
  9. 1.4255
  10. 1.4405
  11. 1.4630
  12. 1.4810
  13. 1.4950
  14. 1.5120
  15. 1.5300
  16. 1.5730
  17. 1.6090
  18. 1.6325
  19. 1.6825
  20. 1.7480
Click on the level to view price action history.

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