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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

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Trade Setup

#EURCAD
Total Profit: 157 pip
Closed trade(s): 157 pip Profit
Open trade(s): 0 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.

11 other break-even trades closed at entry price, therefore no profit no loss.
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.5070 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 (1.5070)
    • Resistance on 11/17/2017
    • Resistance on 11/16/2017
    • Resistance on 11/15/2017
    • Resistance on 08/29/2017
    • Support on 06/09/2017
    • Support on 06/07/2017
    • Support on 05/17/2017
    • Resistance on 11/09/2016
    • Support on 02/24/2016
    • Support on 02/23/2016
    • Support on 02/22/2016
    • Support on 12/23/2015
    • Support on 12/18/2015
    • Resistance on 12/16/2015
    • Resistance on 09/28/2015
    • Resistance on 09/24/2015
  • 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 18, 2017 - 15:45
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 trough is formed in daily chart at 1.4735 on 11/08/2017, so more gains maximum to Trend Hunter Sell Zone (1.5070 to 1.5255) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 61.

Take Profits:

  1. 1.4950
  2. 1.4810
  3. 1.4630
  4. 1.4475
  5. 1.4255
  6. 1.4050
  7. 1.3800
  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, 24 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 17 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 10 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 3 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 25 Feb 2024