website utilities


Follow us:
+1 64 64 8000 31 (New York, USA)
You are not logged in, you need subscription to view up-to-date forecasts, please Login if you have already subscribed, otherwise please Subscribe
You can still continue browsing delayed forecasts on the sidebar list.
Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD
Trade Setup

#GBPCAD
Total Profit: -330 pip
Closed trade(s): 0 pip Profit
Open trade(s): -330 pip Profit

Trade Setup:
We opened 6 BUY trade(s) @ 1.7050 (day close price) based on 'Valley' at 2021.11.26 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Open Profit:
Profit for one trade is 1.6995(current price) - 1.7050(open price) = -55 pip
6 trade(s) still open, therefore total profit for open trade(s) is -55 x 6 = -330 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.

DateDecember 4, 2021 - 23:40
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.66000, beginning of uptrend is expected.
  • We make sure when the resistance at 1.76000 breaks.
  • If the support at 1.66000 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 1.688351 on 2021-10-15 and the trough at 1.670948 on 2021-11-12, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.6836 on 11/26/2021, so more gains to resistance(s) 1.7006, 1.7167, 1.7262 and maximum to Major Resistance (1.7600) 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. 1.7167
  2. 1.7262
  3. 1.7423
  4. 1.7600
  5. 1.7874
Click on the level to view price action history.