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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.5375 to 1.5470). 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 (1.5375)
    • Resistance on 11/30/2017
    • Resistance on 01/25/2018
    • Resistance on 01/26/2018
    • Trough on 02/08/2018
    • Support on 02/08/2018
    • Support on 05/02/2018
    • Support on 05/03/2018
    • Resistance on 05/09/2018
  • Ending of entry zone (1.5470)
    • Resistance on 03/12/2014
    • Resistance on 03/13/2014
    • Resistance on 08/24/2015
    • Resistance on 08/25/2015
    • Resistance on 01/11/2016
    • Support on 01/13/2016
    • Support on 01/21/2016
    • Support on 02/08/2016
    • Support on 02/10/2016
    • Resistance on 02/17/2016
    • Resistance on 02/07/2018
    • Resistance on 02/09/2018
    • Resistance on 02/12/2018
    • Support on 04/13/2018
    • Support on 04/17/2018
    • Support on 04/30/2018
DateJune 2, 2018 - 20:44
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

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

Technical analysis:

  • The RSI bounced from the support #1 at 23 and it prevented price from more losses.
  • The RSI downtrend #2 is broken, so the probability of continuation of downtrend is decreased.
  • While the RSI resistance #3 at 50 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.4915 on 05/30/2018, so more gains to resistance(s) 1.5150, 1.5250 and maximum to Trend Hunter Sell Zone (1.5375 to 1.5470) 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 40.

Take Profits:

  1. 1.5250
  2. 1.5150
  3. 1.4970
  4. 1.4735
  5. 1.4510
  6. 1.4255
  7. 1.3800
  8. 1.3020
  9. 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.