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

#NZDCAD
Total Profit: 5125 pip
Closed trade(s): 3943 pip Profit
Open trade(s): 1182 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.
TP7 @ 0.84740 touched at 2022-11-30 with 645 pip Profit.
TP8 @ 0.85990 touched at 2022-12-02 with 770 pip Profit.
TP9 @ 0.87693 touched at 2022-12-12 with 940 pip Profit.
43 + 105 + 198 + 313 + 423 + 506 + 645 + 770 + 940 = 3943 pip

Open Profit:
Profit for one BUY trade is 0.82228(current price) - 0.78293(open price) = 394 pip
3 trade(s) still open, therefore total profit for open trade(s) is 394 x 3 = 1182 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 0.81780 is broken, we will close open trades.
DateMay 28, 2023 - 21:18
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.81780, resumption of uptrend is expected.
  • We make sure when the resistance at 0.88154 breaks.
  • If the support at 0.81780 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.81780 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.85075 on 05/19/2023, so more losses minimum to Major Support (0.81780) 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 34.

Take Profits:

  1. 0.78755
  2. 0.79330
  3. 0.80270
  4. 0.81498
  5. 0.82520
  6. 0.83350
  7. 0.84740
  8. 0.86080
  9. 0.87693
  10. 0.90169
  11. 0.93300
Click on the level to view price action history.
Symbol Released Current Forecast
New Zealand Dollar / Canadian Dollar (NZDCAD) new free Sun, 8 Sep 2024
New Zealand Dollar / Canadian Dollar (NZDCAD) free Sun, 1 Sep 2024
New Zealand Dollar / Canadian Dollar (NZDCAD) Sun, 25 Aug 2024
New Zealand Dollar / Canadian Dollar (NZDCAD) Sun, 18 Aug 2024
New Zealand Dollar / Canadian Dollar (NZDCAD) Sun, 11 Aug 2024
History
Daily-Trading-Opportunities on NZDCAD.