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

Download MT4 template file

Trade Setup

#NZDCAD
Total Profit: 1643 pip
Closed trade(s): 543 pip Profit
Open trade(s): 1100 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 0.9162 (day close price) based on 'Shooting Star' at 2018.06.22 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Closed Profit:
TP1 @ 0.9110 touched at 2018.06.26 with 52 pip Profit.
TP2 @ 0.9065 touched at 2018.06.27 with 97 pip Profit.
TP3 @ 0.9000 touched at 2018.06.28 with 162 pip Profit.
TP4 @ 0.8930 touched at 2018.06.29 with 232 pip Profit.
52 + 97 + 162 + 232 = 543 pip

Open Profit:
Profit for one trade is 0.9162(open price) - 0.8887(current price) = 275 pip
4 trade(s) still open, therefore total profit for open trade(s) is 275 x 4 = 1100 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.
DateJuly 1, 2018 - 18:06
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of downtrend.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.8785 on 05/17/2018, so more gains to resistance(s) 0.8930, 0.9000, 0.9065 and maximum to Trend Hunter Sell Zone (0.9170 to 0.9240) 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 30.

Take Profits:

  1. 0.9110
  2. 0.9065
  3. 0.9000
  4. 0.8930
  5. 0.8860
  6. 0.8785
  7. 0.8640
Click on the level to view price action history.
Symbol Released Current Forecast
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
New Zealand Dollar / Canadian Dollar (NZDCAD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on NZDCAD.