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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

Trading suggestion:

Price is in the Trend Hunter Sell Zone (1.39460 to 1.39789).

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.39460)
  • Ending of entry zone (1.39789)
DateNovember 3, 2024 - 10:52
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.39789, beginning of downtrend is expected.
  • We make sure when the support at 1.36072 breaks.
  • If the resistance at 1.39789 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.34185 on 09/25/2024, so more gains maximum to Major Resistance (1.39789) 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.

Take Profits:

  1. 1.38884
  2. 1.38352
  3. 1.37556
  4. 1.36876
  5. 1.36072
  6. 1.35404
  7. 1.34323
  8. 1.33664
  9. 1.31816
  10. 1.30929
Click on the level to view price action history.
Symbol Released Current Forecast
US Dollar / Canadian Dollar (USDCAD) new Sun, 1 Dec 2024
US Dollar / Canadian Dollar (USDCAD) Sat, 23 Nov 2024
US Dollar / Canadian Dollar (USDCAD) free Sun, 17 Nov 2024
US Dollar / Canadian Dollar (USDCAD) free Sat, 9 Nov 2024
US Dollar / Canadian Dollar (USDCAD) Sun, 3 Nov 2024
History
Daily-Trading-Opportunities on USDCAD.