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Weekly forecast New Zealand Dollar / Canadian Dollar technical chart

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Trade Setup
Total Profit: 377 pip
Closed trade(s): 41 pip Profit
Open trade(s): 336 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 0.8759 (day close price) based on 'Shooting star (Two-day reversal candle)' at 2020.06.22 signaled by DTO:

Closed Profit:
TP1 @ 0.8800 touched at 2020.06.23 with 41 pip Profit.

Open Profit:
Profit for one trade is 0.8843(current price) - 0.8759(open price) = 84 pip
4 trade(s) still open, therefore total profit for open trade(s) is 84 x 4 = 336 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.

DateJuly 4, 2020 - 18:57
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 0.8700, beginning of uptrend is expected.
  • We make sure when the resistance at 0.8920 breaks.
  • If the support at 0.8700 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.8475 on 06/02/2020, so more gains maximum to Major Resistance (0.8920) 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 66.

Take Profits:

  1. 0.8800
  2. 0.8920
  3. 0.9060
  4. 0.9260
Click on the level to view price action history.