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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trade Setup

#USDCAD
Total Profit: 8828 pip
Closed trade(s): 2346 pip Profit
Open trade(s): 6482 pip Profit
_______________________________________________
Trade Setup:
We opened 13 SELL trade(s) @ 1.3466 (day close price) based on 'Peak' at 2017.06.09 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/USDCAD...

Closed Profit:
TP1 @ 1.3440 touched at 2017.06.12 with 26 pip Profit.
TP2 @ 1.3315 touched at 2017.06.13 with 151 pip Profit.
TP3 @ 1.3185 touched at 2017.06.14 with 281 pip Profit.
TP4 @ 1.3010 touched at 2017.06.29 with 456 pip Profit.
TP5 @ 1.2835 touched at 2017.07.12 with 631 pip Profit.
TP6 @ 1.2665 touched at 2017.07.14 with 801 pip Profit.
26 + 151 + 281 + 456 + 631 + 801 = 2346 pip

Open Profit:
Profit for one trade is 1.3466(open price) - 1.2540(current price) = 926 pip
7 trade(s) still open, therefore total profit for open trade(s) is 926 x 7 = 6482 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.3535 to 1.3795). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.3535)
    • Resistance on 06/09/2017
    • Resistance on 06/07/2017
    • Resistance on 06/02/2017
    • Resistance on 06/01/2017
    • Resistance on 05/24/2017
    • Support on 04/27/2017
    • Support on 04/26/2017
    • Resistance on 04/21/2017
    • Resistance on 03/09/2017
    • Peak on 03/09/2017
    • Resistance on 12/26/2016
    • Resistance on 11/28/2016
    • Peak on 11/28/2016
    • Resistance on 11/25/2016
    • Resistance on 11/24/2016
    • Resistance on 11/18/2016
    • Resistance on 11/17/2016
    • Resistance on 11/09/2016
  • Ending of entry zone (1.3795)
    • Peak on 05/05/2017
    • Resistance on 05/05/2017
    • Resistance on 02/24/2016
    • Resistance on 02/23/2016
    • Resistance on 02/22/2016
    • Support on 02/16/2016
    • Support on 02/15/2016
    • Support on 02/12/2016
    • Support on 02/09/2016
DateJuly 22, 2017 - 11:01
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • The current trend is downtrend and the forecast is continuation of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 1.3345 on 06/21/2017, so more losses to support(s) 1.2465, 1.2125, 1.1920 and more depths 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 21.

Take Profits:

  1. 1.3440
  2. 1.3315
  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.
Symbol Released Current Forecast
US Dollar / Canadian Dollar (USDCAD) new Sun, 21 Apr 2024
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
History
Daily-Trading-Opportunities on USDCAD.