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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

Download MT4 template file

Trade Setup

#GBPCAD
Total Profit: 10065 pip
Closed trade(s): 6105 pip Profit
Open trade(s): 3960 pip Profit
_______________________________________________
Trade Setup:
We opened 17 BUY trade(s) @ 1.6185 (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 210 pip Profit.
TP2 @ 1.6595 touched at 2017.01.23 with 410 pip Profit.
TP3 @ 1.6845 touched at 2017.03.27 with 660 pip Profit.
TP4 @ 1.6975 touched at 2017.04.18 with 790 pip Profit.
TP5 @ 1.7230 touched at 2017.04.18 with 1045 pip Profit.
TP6 @ 1.7540 touched at 2017.04.27 with 1355 pip Profit.
TP7 @ 1.7820 touched at 2017.05.05 with 1635 pip Profit.
210 + 410 + 660 + 790 + 1045 + 1355 + 1635 = 6105 pip

Open Profit:
Profit for one trade is 1.6581(current price) - 1.6185(open price) = 396 pip
10 trade(s) still open, therefore total profit for open trade(s) is 396 x 10 = 3960 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

DateJuly 8, 2017 - 21:19
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

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

Technical analysis:

  • A peak is formed in daily chart at 1.6970 on 06/28/2017, so more losses to support(s) 1.6395 and minimum to Trend Hunter Buy Zone (1.5945 to 1.5755) 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 33.

Take Profits:

  1. 1.6395
  2. 1.6595
  3. 1.6845
  4. 1.6975
  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.