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

#USDCAD
Total Loss: 2739 pip
Closed trade(s): 2739 pip Loss

Trade Setup:
We opened 8 SELL trades @ 1.29628 based on 'Shooting' entry method at 2022-08-24.

Closed Profit:
TP1 @ 1.29158 touched at 2022-08-25 with 47 pip Profit.
Closed Loss:
SL @ 1.33608 touched at 2022-09-20 with 2786 pip Loss.
Loss for one SELL trade is 1.33608(close price) - 1.29628(open price) = 398 pip
Therefore total loss for trades is 398 x 7 = 2786 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateOctober 1, 2022 - 16:44
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.32000, resumption of uptrend is expected.
  • We make sure when the resistance at 1.38750 breaks.
  • If the support at 1.32000 is broken, the short-term forecast -resumption of uptrend- 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 1.36025 on 09/29/2022, so more gains maximum to Major Resistance (1.38750) 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 76.

Supports and Resistances:

  1. 1.46600
  2. 1.40500
  3. 1.37100
  4. 1.34200
  5. 1.29590
  6. 1.28183
  7. 1.27277
  8. 1.23010
  9. 1.20060
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