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Weekly forecast New Zealand Dollar / Canadian Dollar technical chart
Symbol NZDCAD

Download MT4 template file

Trade Setup
#NZDCAD
Total Profit: 702 pip
Closed trade(s): 63 pip Profit
Open trade(s): 639 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.8397 (day close price) based on 'Hammer' at 2019.08.30 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Closed Profit:
TP1 @ 0.8460 touched at 2019.09.04 with 63 pip Profit.

Open Profit:
Profit for one trade is 0.8468(current price) - 0.8397(open price) = 71 pip
9 trade(s) still open, therefore total profit for open trade(s) is 71 x 9 = 639 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.
DateSeptember 14, 2019 - 20:19
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.82850, beginning of uptrend is expected.
  • We make sure when the resistance at 0.86850 breaks.
  • If the support at 0.82850 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 0.8689 on 2019-05-22 and the trough at 0.83475 on 2019-08-29, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.8345 on 08/30/2019, so more gains to resistance(s) 0.8530, 0.8620 and maximum to Major Resistance (0.8685) 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. 0.8460
  2. 0.8530
  3. 0.8620
  4. 0.8685
  5. 0.8890
  6. 0.9060
  7. 0.9260
  8. 0.9515
  9. 0.9920
Click on the level to view price action history.
Symbol Released Current Forecast
New Zealand Dollar / Canadian Dollar (NZDCAD) Sun, 14 Apr 2024
New Zealand Dollar / Canadian Dollar (NZDCAD) free Sun, 7 Apr 2024
New Zealand Dollar / Canadian Dollar (NZDCAD) free Sun, 31 Mar 2024
New Zealand Dollar / Canadian Dollar (NZDCAD) Sun, 24 Mar 2024
New Zealand Dollar / Canadian Dollar (NZDCAD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on NZDCAD.