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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.2080 to 1.2010). 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 (1.2080)
    • Support on 09/08/2017
    • Support on 09/12/2017
    • Support on 05/10/2021
    • Support on 05/11/2021
    • Support on 05/12/2021
    • Support on 05/14/2021
    • Resistance on 06/02/2021
    • Resistance on 06/07/2021
    • Support on 06/10/2021
    • Support on 06/11/2021
  • Ending of entry zone (1.2010)
    • Resistance on 01/14/2015
    • Resistance on 01/16/2015
    • Support on 04/28/2015
    • Support on 04/29/2015
    • Support on 04/30/2015
    • Support on 05/05/2015
    • Support on 05/06/2015
    • Support on 05/12/2015
    • Support on 05/18/2021
    • Support on 06/01/2021

DateAugust 21, 2021 - 08:10
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:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1.2489 on 08/11/2021, so more gains to resistance(s) 1.2885, 1.3020, 1.3335 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 71.

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) 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