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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

Download MT4 template file

Trade Setup
#USDCAD
Total Profit: 29 pip
Closed trade(s): 29 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.3636 (day close price) based on 'Peak' at 2020.06.24 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 1.3665 touched at 2020.06.25 with 29 pip Profit.

6 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.3485 to 1.3315). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.3485)
    • Resistance on 11/16/2016
    • Resistance on 11/29/2016
    • Resistance on 12/22/2016
    • Support on 12/29/2016
    • Resistance on 03/13/2017
    • Resistance on 03/14/2017
    • Resistance on 03/15/2017
    • Resistance on 04/19/2017
    • Resistance on 04/20/2017
    • Support on 04/25/2017
    • Support on 05/22/2017
    • Support on 05/23/2017
    • Resistance on 05/25/2017
    • Resistance on 05/26/2017
    • Resistance on 05/30/2017
    • Support on 06/02/2017
    • Support on 06/08/2017
    • Resistance on 12/18/2018
    • Resistance on 12/19/2018
    • Support on 12/21/2018
    • Support on 01/03/2019
    • Resistance on 01/04/2019
    • Resistance on 04/26/2019
    • Resistance on 04/29/2019
    • Resistance on 04/30/2019
    • Resistance on 05/03/2019
    • Resistance on 05/06/2019
    • Resistance on 05/07/2019
    • Resistance on 05/08/2019
    • Resistance on 05/09/2019
    • Resistance on 05/10/2019
    • Resistance on 05/13/2019
    • Resistance on 05/14/2019
    • Resistance on 05/15/2019
    • Resistance on 05/17/2019
    • Resistance on 05/23/2019
    • Resistance on 05/24/2019
    • Support on 05/29/2019
    • Support on 05/30/2019
    • Support on 05/31/2019
    • Support on 06/02/2020
    • Support on 06/03/2020
    • Support on 06/04/2020
    • Resistance on 06/09/2020
    • Support on 06/23/2020
  • Ending of entry zone (1.3315)
    • Resistance on 11/06/2015
    • Resistance on 11/09/2015
    • Resistance on 11/12/2015
    • Resistance on 11/19/2015
    • Support on 11/30/2015
    • Support on 12/01/2015
    • Support on 12/02/2015
    • Support on 12/03/2015
    • Support on 12/04/2015
    • Resistance on 10/07/2016
    • Resistance on 10/13/2016
    • Support on 12/01/2016
    • Support on 12/19/2016
    • Resistance on 01/05/2017
    • Resistance on 02/28/2017
    • Support on 03/02/2017
    • Support on 03/20/2017
    • Support on 03/21/2017
    • Support on 03/22/2017
    • Support on 03/23/2017
    • Support on 03/27/2017
    • Support on 03/29/2017
    • Support on 03/30/2017
    • Support on 03/31/2017
    • Support on 04/10/2017
    • Support on 04/11/2017
    • Support on 04/14/2017
    • Support on 06/12/2017
    • Resistance on 06/23/2017
    • Resistance on 06/20/2018
    • Resistance on 06/21/2018
    • Resistance on 06/22/2018
    • Resistance on 06/25/2018
    • Resistance on 06/26/2018
    • Resistance on 11/20/2018
    • Resistance on 11/21/2018
    • Resistance on 11/27/2018
    • Resistance on 11/28/2018
    • Resistance on 11/29/2018
    • Resistance on 11/30/2018
    • Support on 12/07/2018
    • Support on 12/10/2018
    • Support on 12/12/2018
    • Resistance on 01/17/2019
    • Resistance on 01/21/2019
    • Resistance on 02/07/2019
    • Resistance on 02/08/2019
    • Resistance on 02/11/2019
    • Resistance on 02/12/2019
    • Resistance on 02/14/2019
    • Resistance on 02/15/2019
    • Resistance on 03/01/2019
    • Resistance on 03/04/2019
    • Support on 03/15/2019
    • Support on 03/18/2019
    • Support on 03/19/2019
    • Support on 04/03/2019
    • Support on 04/10/2019
    • Support on 04/11/2019
    • Support on 04/12/2019
    • Support on 04/15/2019
    • Support on 04/17/2019
    • Support on 06/13/2019
    • Support on 06/14/2019
    • Resistance on 08/07/2019
    • Resistance on 08/08/2019
    • Resistance on 08/15/2019
    • Resistance on 08/16/2019
    • Resistance on 08/22/2019
    • Resistance on 08/23/2019
    • Resistance on 08/26/2019
    • Resistance on 08/28/2019
    • Resistance on 08/29/2019
    • Resistance on 08/30/2019
    • Resistance on 09/18/2019
    • Resistance on 11/20/2019
    • Resistance on 11/21/2019
    • Resistance on 11/25/2019
    • Resistance on 11/26/2019
    • Resistance on 11/29/2019
    • Resistance on 12/02/2019
    • Resistance on 12/03/2019
    • Resistance on 02/07/2020
    • Support on 02/27/2020
    • Support on 03/02/2020
    • Support on 03/03/2020
    • Support on 06/10/2020

DateJuly 4, 2020 - 22:13
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.33150, beginning of uptrend is expected.
  • We make sure when the resistance at 1.38500 breaks.
  • If the support at 1.33150 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.3320 on 06/10/2020, so more gains to resistance(s) 1.3665 and maximum to Major Resistance (1.3850) 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 43.

Take Profits:

  1. 1.3665
  2. 1.3850
  3. 1.4130
  4. 1.4265
  5. 1.4525
  6. 1.4665
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Canadian Dollar (USDCAD) Sat, 23 Mar 2024
US Dollar / Canadian Dollar (USDCAD) free Sun, 17 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sat, 9 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sat, 2 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sun, 25 Feb 2024