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

#USDCAD
Total Profit: 4721 pip
Closed trade(s): 1296 pip Profit
Open trade(s): 3425 pip Profit

Trade Setup:
We opened 9 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 @ 1.2362 touched at 2021.06.17 with 208 pip Profit.
TP3 @ 1.2466 touched at 2021.06.18 with 312 pip Profit.
TP4 @ 1.2885 touched at 2021.08.20 with 731 pip Profit.
45 + 208 + 312 + 731 = 1296 pip

Open Profit:
Profit for one trade is 1.2839(current price) - 1.2154(open price) = 685 pip
5 trade(s) still open, therefore total profit for open trade(s) is 685 x 5 = 3425 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 1.24659 is broken, we will close open trades.

DateMay 22, 2022 - 19:38
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.24659, resumption of uptrend is expected.
  • We make sure when the resistance at 1.30760 breaks.
  • If the support at 1.24659 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.24659 is broken.

Technical analysis:

  • A trough is formed in daily chart at 1.27945 on 05/18/2022, so more gains to resistance(s) 1.28850, 1.29474 and maximum to Major Resistance (1.30760) 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 52.

Take Profits:

  1. 1.21991
  2. 1.23623
  3. 1.24659
  4. 1.28850
  5. 1.34200
  6. 1.37100
  7. 1.40500
  8. 1.46600
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