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

Download MT4 template file

Trade Setup

#NZDCAD
Total Profit: 3533 pip
Closed trade(s): 813 pip Profit
Open trade(s): 2720 pip Profit

Trade Setup:
We opened 12 BUY trade(s) @ 0.8563 (day close price) based on 'Trough (Valley)' at 2018.10.29 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Closed Profit:
TP1 @ 0.8640 touched at 2018.11.01 with 77 pip Profit.
TP2 @ 0.8725 touched at 2018.11.02 with 162 pip Profit.
TP3 @ 0.8780 touched at 2018.11.06 with 217 pip Profit.
TP4 @ 0.8920 touched at 2018.11.07 with 357 pip Profit.
77 + 162 + 217 + 357 = 813 pip

Open Profit:
Profit for one trade is 0.8903(current price) - 0.8563(open price) = 340 pip
8 trade(s) still open, therefore total profit for open trade(s) is 340 x 8 = 2720 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 0.86400 is broken, we will close open trades.
DateNovember 11, 2018 - 17:41
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.86400 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 0.86400 is broken.

Technical analysis:

  • While the RSI support #1 at 49 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 0.8465 on 10/24/2018, so more gains to resistance(s) 0.8920, 0.9000, 0.9060 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 76.

Take Profits:

  1. 0.8640
  2. 0.8725
  3. 0.8780
  4. 0.8920
  5. 0.9000
  6. 0.9060
  7. 0.9170
  8. 0.9260
  9. 0.9515
  10. 0.9760
  11. 0.9920
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.