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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

Download MT4 template file

Trade Setup

#GBPCAD
Total Profit: 823 pip
Closed trade(s): 113 pip Profit
Open trade(s): 710 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 1.7933 (day close price) based on 'Two-day reversal candle (Shooting Star)' at 2018.04.17 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.7820 touched at 2018.04.19 with 113 pip Profit.

Open Profit:
Profit for one trade is 1.7933(open price) - 1.7861(current price) = 71 pip
10 trade(s) still open, therefore total profit for open trade(s) is 71 x 10 = 710 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateApril 22, 2018 - 11:28
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.83550, beginning of downtrend is expected.
  • We make sure when the support at 1.77200 breaks.
  • If the resistance at 1.83550 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.8415 on 03/19/2018, so more losses to support(s) 1.7820, 1.7535, 1.7425 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 45.

Take Profits:

  1. 1.7820
  2. 1.7535
  3. 1.7425
  4. 1.7125
  5. 1.6825
  6. 1.6565
  7. 1.6230
  8. 1.5755
  9. 1.5285
  10. 1.4830
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.