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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

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Trade Setup
#GBPCAD
Total Profit: 6564 pip
Closed trade(s): 6564 pip Profit
Open trade(s): 0 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

Closed Profit:
Profit for one trade is 1.6957(current price) - 1.6381(open price) = 576 pip
2 trade(s) closed at market price as the major support is broken, therefore total profit will increase by 576 x 2 = 1152 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
DateJanuary 18, 2020 - 20:41
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

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

Technical analysis:

  • A peak is formed in daily chart at 1.7220 on 12/31/2019, so more losses to support(s) 1.6975, 1.6770, 1.6585 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 43.

Supports and Resistances:

  1. 1.8415
  2. 1.7725
  3. 1.7535
  4. 1.7315
  5. 1.7135
  6. 1.6975
  7. 1.6770
  8. 1.6585
  9. 1.6420
  10. 1.5735
Click on the level to view price action history.
Symbol Released Current Forecast
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
British Pound / Canadian Dollar (GBPCAD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPCAD.