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

#USDCAD
Total Profit: -2156 pip
Closed trade(s): 35 pip Profit
Open trade(s): -2191 pip Profit

Trade Setup:
We opened 8 SELL trades @ 1.29514 based on 'Peak' entry method at 2022-08-23.

Closed Profit:
TP1 @ 1.29158 touched at 2022-08-25 with 35 pip Profit.

Open Profit:
Profit for one SELL trade is 1.29514(open price) - 1.32636(current price) = -313 pip
7 trade(s) still open, therefore total profit for open trade(s) is -313 x 7 = -2191 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateSeptember 17, 2022 - 19:12
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.33420, beginning of downtrend is expected.
  • We make sure when the support at 1.29158 breaks.
  • If the resistance at 1.33420 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1.29530 on 09/13/2022, so more gains maximum to Major Resistance (1.33420) 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 65.

Take Profits:

  1. 1.29158
  2. 1.28183
  3. 1.27277
  4. 1.24700
  5. 1.23010
  6. 1.22000
  7. 1.20060
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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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