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

#USDCAD
Total Profit: 5480 pip
Closed trade(s): 1800 pip Profit
Open trade(s): 3680 pip Profit

Trade Setup:
We opened 10 BUY trades @ 1.21537 based on 'Peak' entry method at 2021-06-11, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

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.
TP5 @ 1.2885 touched at 2021-08-20 with 731 pip Profit.
46 + 211 + 316 + 496 + 731 = 1800 pip

Open Profit:
Profit for one BUY trade is 1.28901(current price) - 1.21537(open price) = 736 pip
5 trade(s) still open, therefore total profit for open trade(s) is 736 x 5 = 3680 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 1.24700 is broken, we will close open trades.

DateJune 25, 2022 - 17:56
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.24700, resumption of uptrend is expected.
  • We make sure when the resistance at 1.30760 breaks.
  • If the support at 1.24700 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.24700 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 1.30785 on 06/17/2022, so more losses to support(s) 1.28850, 1.27766, 1.26643 and minimum to Major Support (1.24700) 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 54.

Take Profits:

  1. 1.22000
  2. 1.23650
  3. 1.24700
  4. 1.26643
  5. 1.28850
  6. 1.34200
  7. 1.37100
  8. 1.40500
  9. 1.46600
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Canadian Dollar (USDCAD) Sat, 23 Mar 2024
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