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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

Download MT4 template file

Trade Setup

#EURCAD
Total Profit: 1298 pip
Closed trade(s): 98 pip Profit
Open trade(s): 1200 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 1.5458 (day close price) based on 'Shooting Star' at 2018.06.22 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.5360 touched at 2018.06.27 with 98 pip Profit.

Open Profit:
Profit for one trade is 1.5458(open price) - 1.5338(current price) = 120 pip
10 trade(s) still open, therefore total profit for open trade(s) is 120 x 10 = 1200 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.5580 to 1.5715). 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 (1.5580)
    • Resistance on 03/19/2014
    • Resistance on 03/20/2014
    • Resistance on 08/24/2015
    • Support on 01/15/2016
    • Resistance on 01/26/2016
    • Support on 02/12/2016
    • Resistance on 02/15/2016
    • Resistance on 02/06/2018
    • Resistance on 02/13/2018
    • Resistance on 02/14/2018
    • Support on 02/22/2018
    • Support on 02/27/2018
    • Support on 02/28/2018
    • Support on 04/06/2018
    • Resistance on 04/17/2018
    • Support on 04/20/2018
    • Resistance on 04/30/2018
    • Resistance on 06/22/2018
    • Resistance on 06/25/2018
    • Resistance on 06/26/2018
  • Ending of entry zone (1.5715)
    • Support on 04/03/2008
    • Support on 04/04/2008
    • Support on 04/07/2008
    • Support on 04/28/2008
    • Support on 04/29/2008
    • Support on 04/30/2008
    • Support on 05/01/2008
    • Support on 05/02/2008
    • Resistance on 05/06/2008
    • Resistance on 06/04/2008
    • Support on 06/12/2008
    • Support on 06/13/2008
    • Support on 06/19/2008
    • Support on 06/20/2008
    • Support on 06/23/2008
    • Support on 06/25/2008
    • Support on 08/14/2008
    • Resistance on 10/09/2008
    • Support on 10/15/2008
    • Support on 10/22/2008
    • Support on 10/29/2008
    • Resistance on 11/19/2008
    • Support on 11/24/2008
    • Support on 11/28/2008
    • Support on 12/02/2008
    • Support on 01/06/2009
    • Support on 01/30/2009
    • Support on 02/05/2009
    • Support on 02/06/2009
    • Support on 02/09/2009
    • Support on 02/10/2009
    • Support on 04/30/2009
    • Support on 05/01/2009
    • Support on 05/04/2009
    • Resistance on 05/06/2009
    • Resistance on 05/07/2009
    • Resistance on 05/08/2009
    • Support on 05/18/2009
    • Support on 05/19/2009
    • Support on 05/20/2009
    • Support on 05/21/2009
    • Support on 05/25/2009
    • Resistance on 06/12/2009
    • Resistance on 06/15/2009
    • Resistance on 06/16/2009
    • Support on 06/19/2009
    • Support on 07/20/2009
    • Resistance on 07/22/2009
    • Resistance on 08/19/2009
    • Resistance on 08/31/2009
    • Resistance on 09/01/2009
    • Resistance on 09/04/2009
    • Resistance on 09/09/2009
    • Resistance on 09/10/2009
    • Resistance on 09/11/2009
    • Support on 09/14/2009
    • Support on 09/15/2009
    • Support on 09/21/2009
    • Support on 10/02/2009
    • Resistance on 10/06/2009
    • Resistance on 10/21/2009
    • Support on 10/27/2009
    • Support on 11/10/2009
    • Resistance on 11/17/2009
    • Support on 12/01/2009
    • Resistance on 12/07/2009
    • Resistance on 01/14/2016
    • Support on 01/19/2016
    • Resistance on 02/09/2016
    • Resistance on 04/06/2018
    • Resistance on 04/09/2018
    • Resistance on 04/23/2018
    • Resistance on 04/24/2018
    • Peak on 04/25/2018
    • Resistance on 04/25/2018
DateJuly 1, 2018 - 11:56
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

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

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of downtrend is increased.
  • A peak is formed in daily chart at 1.5585 on 06/25/2018, so more losses to support(s) 1.5250, 1.5150, 1.4970 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 51.

Take Profits:

  1. 1.5360
  2. 1.5250
  3. 1.5150
  4. 1.4970
  5. 1.4735
  6. 1.4510
  7. 1.4255
  8. 1.3800
  9. 1.3020
  10. 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.