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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trade Setup

#USDCAD
Total Profit: 3457 pip
Closed trade(s): 1069 pip Profit
Open trade(s): 2388 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 1.2552(current price) - 1.2154(open price) = 398 pip
6 trade(s) still open, therefore total profit for open trade(s) is 398 x 6 = 2388 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.
DateAugust 6, 2021 - 22:23
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 support #1 at 55 is broken, so the probability of continuation of uptrend is decreased.
  • A trough is formed in daily chart at 1.2422 on 07/30/2021, so more gains to resistance(s) 1.2650, 1.2885, 1.3420 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 55.

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) new Sun, 21 Apr 2024
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
History
Daily-Trading-Opportunities on USDCAD.