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

Download MT4 template file

Trade Setup
#NZDCAD
Total Profit: 1539 pip
Closed trade(s): 291 pip Profit
Open trade(s): 1248 pip Profit

Trade Setup:
We opened 6 SELL trade(s) @ 0.8958 based on 'DTO 72674' entry method at 2021.04.22.

Closed Profit:
TP1 @ 0.8870 touched at 2021.04.30 with 88 pip Profit.
TP2 @ 0.8755 touched at 2021.05.12 with 203 pip Profit.
88 + 203 = 291 pip

Open Profit:
Profit for one trade is 0.8958(open price) - 0.8646(current price) = 312 pip
4 trade(s) still open, therefore total profit for open trade(s) is 312 x 4 = 1248 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.

DateJune 12, 2021 - 14:19
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBearish

Midterm forecast:

  • 0.9330 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.8747 on 06/07/2021, so more losses to support(s) 0.8600, 0.8460, 0.8240 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 41.

Take Profits:

  1. 0.8870
  2. 0.8755
  3. 0.8600
  4. 0.8460
  5. 0.8240
Click on the level to view price action history.