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

Download MT4 template file

Trade Setup
#NZDCAD
Total Profit: 711 pip
Closed trade(s): 90 pip Profit
Open trade(s): 621 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.8369 based on 'Valley' at 2019.09.24 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Closed Profit:
TP1 @ 0.8460 touched at 2019.11.01 with 90 pip Profit.

Open Profit:
Profit for one trade is 0.8438(current price) - 0.8369(open price) = 69 pip
9 trade(s) still open, therefore total profit for open trade(s) is 69 x 9 = 621 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.
DateNovember 2, 2019 - 18:37
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.82000, beginning of uptrend is expected.
  • We make sure when the resistance at 0.85300 breaks.
  • If the support at 0.82000 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 0.82365 on 2019-10-01, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.8270 on 10/29/2019, so more gains to resistance(s) 0.8460 and maximum to Major Resistance (0.8530) 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 59.

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) new Sun, 21 Apr 2024
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
History
Daily-Trading-Opportunities on NZDCAD.