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

#NZDCAD
Total Profit: 4636 pip
Closed trade(s): 1588 pip Profit
Open trade(s): 3048 pip Profit

Trade Setup:
We opened 12 BUY trades @ 0.78293 based on 'Valley' entry method at 2022-09-29.

Closed Profit:
TP1 @ 0.78724 touched at 2022-10-06 with 43 pip Profit.
TP2 @ 0.79336 touched at 2022-10-27 with 105 pip Profit.
TP3 @ 0.80265 touched at 2022-11-02 with 198 pip Profit.
TP4 @ 0.81424 touched at 2022-11-15 with 313 pip Profit.
TP5 @ 0.82520 touched at 2022-11-18 with 423 pip Profit.
TP6 @ 0.83350 touched at 2022-11-23 with 506 pip Profit.
43 + 105 + 198 + 313 + 423 + 506 = 1588 pip

Open Profit:
Profit for one BUY trade is 0.83373(current price) - 0.78293(open price) = 508 pip
6 trade(s) still open, therefore total profit for open trade(s) is 508 x 6 = 3048 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.
  • If the Midterm level 0.80270 is broken, we will close open trades.

DateNovember 23, 2022 - 20:37
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.80270 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 0.80270 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.76235 on 10/10/2022, so more gains to resistance(s) 0.84740, 0.85990, 0.87693 and more heights 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 75.

Take Profits:

  1. 0.78755
  2. 0.79330
  3. 0.80270
  4. 0.81498
  5. 0.82520
  6. 0.83350
  7. 0.84740
  8. 0.85990
  9. 0.87693
  10. 0.90169
  11. 0.93300
Click on the level to view price action history.