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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

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Trade Setup

#EURCAD
Total Profit: 1098 pip
Closed trade(s): 98 pip Profit
Open trade(s): 1000 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) - 1.5358(current price) = 100 pip
10 trade(s) still open, therefore total profit for open trade(s) is 100 x 10 = 1000 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJuly 8, 2018 - 13:07
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 above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

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, 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