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Weekly forecast New Zealand Dollar vs. Canadian Dollar technical chart
Symbol NZDCAD

Download MT4 template file

Trade Setup
#NZDCAD
Total Profit: 4269 pip
Closed trade(s): 2354 pip Profit
Open trade(s): 1915 pip Profit

Trade Setup:
We opened 12 BUY trade(s) @ 0.8562 (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.
TP5 @ 0.9000 touched at 2018.11.14 with 437 pip Profit.
TP6 @ 0.9060 touched at 2018.11.21 with 497 pip Profit.
TP7 @ 0.9170 touched at 2018.12.04 with 607 pip Profit.
77 + 162 + 217 + 357 + 437 + 497 + 607 = 2354 pip

Open Profit:
Profit for one trade is 0.8946(current price) - 0.8562(open price) = 383 pip
5 trade(s) still open, therefore total profit for open trade(s) is 383 x 5 = 1915 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 0.8780 is broken, we will close open trades.
  • Price may also reach 0.8780, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateSat, 02/09/2019 - 23:11
Currentrange bound
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.8780 would begin in Midterm.
  • We will close our open trades, if the Midterm level 0.8780 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 0.9120 on 01/31/2019, so more losses to support(s) 0.8920 and minimum to Major Support (0.8780) 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 41.

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.