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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

Download MT4 template file

Trade Setup

#EURCAD
Total Profit: 2732 pip
Closed trade(s): 527 pip Profit
Open trade(s): 2205 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 1.5299 (day close price) based on 'Peak' at 2018.07.25 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.5250 touched at 2018.07.26 with 49 pip Profit.
TP2 @ 1.5150 touched at 2018.08.01 with 149 pip Profit.
TP3 @ 1.4970 touched at 2018.08.10 with 329 pip Profit.
49 + 149 + 329 = 527 pip

Open Profit:
Profit for one trade is 1.5299(open price) - 1.4984(current price) = 315 pip
7 trade(s) still open, therefore total profit for open trade(s) is 315 x 7 = 2205 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.
  • If the Midterm level 1.52850 is broken, we will close open trades.

DateAugust 12, 2018 - 12:08
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.52850, resumption of downtrend is expected.
  • We make sure when the support at 1.49150 breaks.
  • If the resistance at 1.52850 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.52850 is broken.

Technical analysis:

  • The RSI support #1 at 47 is broken, so the probability of resumption of downtrend is increased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.5190 on 08/08/2018, so more losses to support(s) 1.4970 and minimum to Major Support (1.4915) 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 32.

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.

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