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

Download MT4 template file

Trade Setup

#NZDCAD
Total Profit: 2200 pip
Closed trade(s): 1744 pip Profit
Open trade(s): 456 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.
TP5 @ 0.8860 touched at 2018.07.02 with 302 pip Profit.
TP6 @ 0.8785 touched at 2018.08.02 with 377 pip Profit.
TP7 @ 0.8640 touched at 2018.08.09 with 522 pip Profit.
52 + 97 + 162 + 232 + 302 + 377 + 522 = 1744 pip

Open Profit:
Profit for one trade is 0.9162(open price) - 0.8706(current price) = 456 pip
1 trade(s) still open, therefore total profit for open trade(s) is 456 x 1 = 456 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.
  • If the Midterm level 0.87850 is broken, we will close open trades.
DateAugust 25, 2018 - 11:37
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 a downtrend wave below 0.87850 would begin in Midterm.
  • We will close our open trades, if the Midterm level 0.87850 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of downtrend is decreased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.8760 on 08/22/2018, so more losses to support(s) 0.8640, 0.8400, 0.8310 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 44.

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.