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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD
Trade Setup

#USDCAD
Total Profit: 2804 pip
Closed trade(s): 1749 pip Profit
Open trade(s): 1055 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 @ 1.2199 touched at 2021.06.15 with 45 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 @ 1.2600 touched at 2021.07.15 with 446 pip Profit.
TP5 @ 1.2885 touched at 2021.08.20 with 731 pip Profit.
45 + 211 + 316 + 446 + 731 = 1749 pip

Open Profit:
Profit for one trade is 1.2365(current price) - 1.2154(open price) = 211 pip
5 trade(s) still open, therefore total profit for open trade(s) is 211 x 5 = 1055 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.
  • If the Midterm level 1.23100 is broken, we will close open trades.
DateOctober 23, 2021 - 23:41
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.23100, beginning of uptrend is expected.
  • We make sure when the resistance at 1.26000 breaks.
  • If the support at 1.23100 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.23100 is broken.

Technical analysis:

  • The RSI support #1 at 45 is broken, so the probability of beginning of uptrend is decreased.
  • A peak is formed in daily chart at 1.2774 on 09/29/2021, so more losses to support(s) 1.2365 and minimum to Major Support (1.2310) 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 35.

Take Profits:

  1. 1.2199
  2. 1.2365
  3. 1.2470
  4. 1.2600
  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, 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.