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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

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Trade Setup
#GBPCAD
Total Profit: 7756 pip
Closed trade(s): 5412 pip Profit
Open trade(s): 2344 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.6381 based on 'Valley' at 2019.10.02 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.6420 touched at 2019.10.03 with 39 pip Profit.
TP2 @ 1.6585 touched at 2019.10.11 with 204 pip Profit.
TP3 @ 1.6770 touched at 2019.10.11 with 389 pip Profit.
TP4 @ 1.6975 touched at 2019.10.16 with 594 pip Profit.
TP5 @ 1.7135 touched at 2019.11.18 with 754 pip Profit.
TP6 @ 1.7315 touched at 2019.12.03 with 934 pip Profit.
TP7 @ 1.7535 touched at 2019.12.13 with 1154 pip Profit.
TP8 @ 1.7725 touched at 2019.12.13 with 1344 pip Profit.
39 + 204 + 389 + 594 + 754 + 934 + 1154 + 1344 = 5412 pip

Open Profit:
Profit for one trade is 1.7553(current price) - 1.6381(open price) = 1172 pip
2 trade(s) still open, therefore total profit for open trade(s) is 1172 x 2 = 2344 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.69750 is broken, we will close open trades.
DateDecember 14, 2019 - 19:25
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 1.69750, continuation of uptrend is expected.
  • We make sure when the resistance at 1.77900 breaks.
  • If the support at 1.69750 is broken, the short-term forecast -continuation of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.69750 is broken.

Technical analysis:

  • While the RSI support #1 at 57 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.7025 on 11/27/2019, so more gains to resistance(s) 1.7725 and maximum to Major Resistance (1.7790) 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 74.

Take Profits:

  1. 1.6420
  2. 1.6585
  3. 1.6770
  4. 1.6975
  5. 1.7135
  6. 1.7315
  7. 1.7535
  8. 1.7725
  9. 1.8415
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Canadian Dollar (GBPCAD) new Sun, 21 Apr 2024
British Pound / Canadian Dollar (GBPCAD) Sun, 14 Apr 2024
British Pound / Canadian Dollar (GBPCAD) Sun, 7 Apr 2024
British Pound / Canadian Dollar (GBPCAD) Sat, 30 Mar 2024
British Pound / Canadian Dollar (GBPCAD) Mon, 25 Mar 2024
History
Daily-Trading-Opportunities on GBPCAD.