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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

Download MT4 template file

Trade Setup

#GBPCAD
Total Profit: 8593 pip
Closed trade(s): 1271 pip Profit
Open trade(s): 7322 pip Profit
_______________________________________________
Trade Setup:
We opened 17 BUY trade(s) @ 1.6188 (day close price) based on 'Valley' at 2017.01.17 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/GBPCAD...

Closed Profit:
TP1 @ 1.6395 touched at 2017.01.19 with 207 pip Profit.
TP2 @ 1.6595 touched at 2017.01.23 with 407 pip Profit.
TP3 @ 1.6845 touched at 2017.03.27 with 657 pip Profit.
207 + 407 + 657 = 1271 pip

Open Profit:
Profit for one trade is 1.6711(current price) - 1.6188(open price) = 523 pip
14 trade(s) still open, therefore total profit for open trade(s) is 523 x 14 = 7322 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.5945 to 1.5755). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.5945)
    • Support on 01/13/2017
    • Support on 01/12/2017
    • Support on 01/11/2017
    • Support on 10/17/2016
    • Support on 10/07/2016
    • Support on 08/09/2013
    • Resistance on 08/06/2013
    • Resistance on 08/05/2013
    • Support on 07/03/2013
    • Support on 07/02/2013
    • Support on 07/01/2013
    • Support on 06/28/2013
    • Support on 06/27/2013
    • Support on 06/18/2013
    • Resistance on 06/11/2013
    • Resistance on 06/05/2013
    • Resistance on 01/25/2013
    • Resistance on 12/17/2012
    • Resistance on 12/14/2012
    • Support on 12/05/2012
    • Resistance on 11/30/2012
    • Resistance on 11/28/2012
    • Resistance on 11/27/2012
    • Resistance on 11/26/2012
    • Resistance on 11/13/2012
    • Resistance on 11/07/2012
    • Support on 11/02/2012
    • Resistance on 10/24/2012
    • Resistance on 10/23/2012
    • Resistance on 10/22/2012
    • Resistance on 10/17/2012
    • Resistance on 09/27/2012
    • Support on 07/02/2012
    • Support on 06/29/2012
    • Support on 06/28/2012
    • Support on 06/27/2012
    • Support on 06/22/2012
    • Support on 06/20/2012
    • Support on 06/19/2012
    • Support on 06/13/2012
    • Support on 06/12/2012
    • Support on 06/05/2012
    • Support on 06/04/2012
    • Support on 05/04/2012
    • Support on 05/03/2012
    • Support on 05/02/2012
    • Support on 05/01/2012
    • Support on 04/30/2012
    • Resistance on 04/27/2012
    • Resistance on 04/26/2012
    • Resistance on 04/25/2012
    • Resistance on 04/17/2012
    • Resistance on 04/10/2012
    • Resistance on 04/02/2012
    • Resistance on 02/27/2012
    • Support on 12/27/2011
    • Resistance on 12/06/2011
    • Support on 11/30/2011
    • Support on 10/31/2011
    • Support on 10/28/2011
    • Support on 10/27/2011
    • Support on 10/17/2011
    • Support on 10/14/2011
    • Support on 10/12/2011
    • Support on 10/07/2011
    • Support on 10/06/2011
  • Ending of entry zone (1.5755)
    • Support on 01/16/2017
    • Trough on 10/07/2016
    • Support on 10/07/2016

DateApril 1, 2017 - 22:23
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

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

Technical analysis:

  • A trough is formed in daily chart at 1.6530 on 03/30/2017, so more gains to resistance(s) 1.6845, 1.6985, 1.7230 and more heights 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 60.

Take Profits:

  1. 1.6395
  2. 1.6595
  3. 1.6845
  4. 1.6985
  5. 1.7230
  6. 1.7540
  7. 1.7820
  8. 1.8100
  9. 1.8355
  10. 1.8660
  11. 1.8980
  12. 1.9270
  13. 1.9765
  14. 2.0090
  15. 2.0325
  16. 2.0965
Click on the level to view price action history.