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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

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Trade Setup

#EURCAD
Total Profit: 2005 pip
Closed trade(s): 157 pip Profit
Open trade(s): 1848 pip Profit
_______________________________________________
Trade Setup:
We opened 12 SELL trade(s) @ 1.4967 (day close price) based on 'Two-day reversal candle (Shooting Star)' at 2017.10.26 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.4810 touched at 2017.11.03 with 157 pip Profit.

Open Profit:
Profit for one trade is 1.4967(open price) - 1.4799(current price) = 168 pip
11 trade(s) still open, therefore total profit for open trade(s) is 168 x 11 = 1848 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.5000 to 1.5255). 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 (1.5000)
    • Resistance on 11/02/2017
    • Resistance on 10/27/2017
    • Resistance on 08/31/2017
    • Resistance on 08/30/2017
    • Resistance on 08/29/2017
    • Resistance on 08/15/2017
    • Resistance on 08/14/2017
    • Resistance on 08/11/2017
    • Resistance on 08/08/2017
    • Support on 06/09/2017
    • Support on 05/30/2017
    • Support on 05/29/2017
    • Support on 05/26/2017
    • Resistance on 05/15/2017
    • Resistance on 05/12/2017
    • Support on 05/05/2017
    • Resistance on 05/03/2017
    • Resistance on 05/02/2017
    • Resistance on 11/09/2016
    • Resistance on 04/07/2016
    • Resistance on 04/06/2016
    • Resistance on 04/05/2016
    • Resistance on 03/10/2016
    • Resistance on 02/26/2016
    • Support on 01/05/2016
    • Support on 01/04/2016
    • Support on 12/31/2015
    • Support on 12/17/2015
    • Support on 12/16/2015
    • Support on 12/15/2015
    • Trough on 04/09/2014
    • Trough on 04/08/2014
    • Trough on 04/07/2014
    • Trough on 04/04/2014
  • Ending of entry zone (1.5255)
    • Resistance on 06/02/2017
    • Peak on 06/02/2017
    • Resistance on 11/09/2016
    • Resistance on 02/24/2016
    • Support on 02/04/2016
    • Support on 02/03/2016
    • Support on 01/28/2016
    • Support on 01/27/2016
    • Support on 01/26/2016
    • Support on 01/25/2016
    • Resistance on 01/04/2016
    • Resistance on 12/29/2015
    • Resistance on 12/28/2015
    • Resistance on 12/23/2015
    • Resistance on 12/22/2015
    • Resistance on 12/21/2015
    • Peak on 05/06/2014
    • Peak on 05/05/2014
    • Peak on 05/01/2014
DateNovember 11, 2017 - 22:08
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 1.5040 on 10/31/2017, so more losses to support(s) 1.4630, 1.4475, 1.4255 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 49.

Take Profits:

  1. 1.4810
  2. 1.4630
  3. 1.4475
  4. 1.4255
  5. 1.4050
  6. 1.3800
  7. 1.3650
  8. 1.3385
  9. 1.3020
  10. 1.2450
  11. 1.2125
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.