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

#USDCAD
Total Profit: 5000 pip
Closed trade(s): 1800 pip Profit
Open trade(s): 3200 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 1.27937(current price) - 1.21537(open price) = 640 pip
5 trade(s) still open, therefore total profit for open trade(s) is 640 x 5 = 3200 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.
DateJuly 31, 2022 - 16:05
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.32266, beginning of downtrend is expected.
  • We make sure when the support at 1.24700 breaks.
  • If the resistance at 1.32266 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.24700 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.30783 on 2022-06-17 and the peak at 1.32225 on 2022-07-14, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.32225 on 07/14/2022, so more losses to support(s) 1.27766, 1.26643, 1.25911 and minimum to Major Support (1.24700) 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 43.

Take Profits:

  1. 1.29158
  2. 1.28450
  3. 1.27766
  4. 1.26643
  5. 1.24700
  6. 1.23010
  7. 1.22000
  8. 1.20060
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.