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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateSeptember 30, 2018 - 21:50
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.48000, beginning of uptrend is expected.
  • We make sure when the resistance at 1.53600 breaks.
  • If the support at 1.48000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.49165 on 2018-05-30 and the trough at 1.47985 on 2018-08-15, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI support #1 at 47 is broken, so the probability of beginning of uptrend is decreased.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 37.

Supports and Resistances:

  1. 1.6150
  2. 1.5715
  3. 1.5580
  4. 1.5465
  5. 1.5360
  6. 1.5190
  7. 1.5060
  8. 1.4915
  9. 1.4800
  10. 1.4735
  11. 1.4510
  12. 1.4255
  13. 1.3800
  14. 1.3020
  15. 1.2125
Click on the level to view price action history.

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