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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trade Setup

#USDCAD
Total Profit: 1742 pip
Closed trade(s): 573 pip Profit
Open trade(s): 1169 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.2154 (day close price) based on 'Peak' at 2021.06.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 1.2200 touched at 2021.06.15 with 46 pip Profit.
TP2 @ 1.2365 touched at 2021.06.17 with 211 pip Profit.
TP3 @ 1.2470 touched at 2021.06.18 with 316 pip Profit.
46 + 211 + 316 = 573 pip

Open Profit:
Profit for one trade is 1.2321(current price) - 1.2154(open price) = 167 pip
7 trade(s) still open, therefore total profit for open trade(s) is 167 x 7 = 1169 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.
DateJuly 3, 2021 - 20:01
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1.19200 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • A peak is formed in daily chart at 1.2450 on 07/02/2021, so more losses to support(s) 1.2200, 1.2080, 1.2010 and minimum to Major Support (1.1920) 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 54.

Take Profits:

  1. 1.2200
  2. 1.2365
  3. 1.2470
  4. 1.2650
  5. 1.2885
  6. 1.3420
  7. 1.3710
  8. 1.4050
  9. 1.4665
Click on the level to view price action history.
Symbol Released Current Forecast
US Dollar / Canadian Dollar (USDCAD) Sun, 14 Apr 2024
US Dollar / Canadian Dollar (USDCAD) Sat, 6 Apr 2024
US Dollar / Canadian Dollar (USDCAD) Sat, 30 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sat, 23 Mar 2024
US Dollar / Canadian Dollar (USDCAD) free Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on USDCAD.