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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trading suggestion:

Price is in the Trend Hunter Sell Zone (1.3590 to 1.3830).

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

  • Beginning of entry zone (1.3590)
    • Resistance on 04/25/2017
    • Resistance on 12/28/2016
    • Resistance on 12/27/2016
    • Resistance on 11/14/2016
  • Ending of entry zone (1.3830)
    • Resistance on 02/24/2016
    • Resistance on 02/23/2016
    • Support on 02/16/2016
    • Support on 02/15/2016
    • Support on 02/12/2016
    • Support on 02/10/2016
    • Support on 02/09/2016
    • Support on 02/08/2016
    • Support on 12/31/2015
    • Support on 12/30/2015
    • Support on 12/29/2015
    • Support on 12/28/2015
    • Support on 12/24/2015

DateMay 13, 2017 - 14:49
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 1.3795 on 05/05/2017, so more losses to support(s) 1.3590, 1.3535, 1.3400 and more depths 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 64.

Take Profits:

  1. 1.3535
  2. 1.3400
  3. 1.3185
  4. 1.3010
  5. 1.2835
  6. 1.2665
  7. 1.2465
  8. 1.2125
  9. 1.1920
  10. 1.1425
  11. 1.0650
  12. 0.9405
Click on the level to view price action history.

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