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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trade Setup

#USDCAD
Total Profit: 3001 pip
Closed trade(s): 1069 pip Profit
Open trade(s): 1932 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.
TP4 @ 1.2650 touched at 2021.07.19 with 496 pip Profit.
46 + 211 + 316 + 496 = 1069 pip

Open Profit:
Profit for one trade is 1.2476(current price) - 1.2154(open price) = 322 pip
6 trade(s) still open, therefore total profit for open trade(s) is 322 x 6 = 1932 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 31, 2021 - 09:50
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • 1.1920 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI support #1 at 55 is broken, so the probability of continuation of uptrend is decreased.
  • A peak is formed in daily chart at 1.2805 on 07/19/2021, so more losses to support(s) 1.2470, 1.2365, 1.2200 and minimum to Major Support (1.1920) 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 50.

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. 1.4660
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Canadian Dollar (USDCAD) Sun, 12 Sep 2021
US Dollar / Canadian Dollar (USDCAD) Sun, 5 Sep 2021
US Dollar / Canadian Dollar (USDCAD) free Sat, 28 Aug 2021
US Dollar / Canadian Dollar (USDCAD) Sat, 21 Aug 2021
US Dollar / Canadian Dollar (USDCAD) free Fri, 13 Aug 2021