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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trade Setup

#USDCAD
Total Profit: 7993 pip
Closed trade(s): 7993 pip Profit
Open trade(s): 0 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:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

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 @ 1.3000 touched at 2017.06.29 with 466 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.
TP7 @ 1.2465 touched at 2017.07.26 with 1001 pip Profit.
TP8 @ 1.2125 touched at 2017.09.07 with 1341 pip Profit.
26 + 151 + 281 + 466 + 631 + 801 + 1001 + 1341 = 4698 pip

Closed Profit:
Profit for one trade is 1.3466(open price) - 1.2807(current price) = 659 pip
5 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 659 x 5 = 3295 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.2665 to 1.2465). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.2665)
    • Support on 10/25/2017
    • Resistance on 10/23/2017
    • Resistance on 08/31/2017
    • Support on 08/14/2017
    • Support on 08/11/2017
    • Support on 08/10/2017
    • Support on 08/09/2017
    • Resistance on 08/04/2017
    • Support on 06/23/2016
    • Support on 06/10/2016
    • Support on 06/09/2016
    • Support on 06/08/2016
    • Support on 04/22/2016
    • Support on 04/19/2016
    • Resistance on 07/06/2015
    • Peak on 04/14/2015
    • Peak on 04/13/2015
    • Peak on 04/10/2015
    • Resistance on 04/10/2015
    • Resistance on 04/02/2015
    • Support on 03/12/2015
    • Support on 03/11/2015
    • Peak on 02/26/2015
    • Peak on 02/25/2015
    • Peak on 02/24/2015
    • Resistance on 02/24/2015
    • Resistance on 02/11/2015
    • Resistance on 02/03/2015
    • Resistance on 01/29/2015
    • Resistance on 04/01/2009
  • Ending of entry zone (1.2465)
    • Support on 10/19/2017
    • Support on 10/18/2017
    • Support on 10/16/2017
    • Support on 10/05/2017
    • Resistance on 09/29/2017
    • Support on 08/31/2017
    • Support on 08/29/2017
    • Support on 08/28/2017
    • Support on 08/25/2017
    • Support on 08/01/2017
    • Support on 05/03/2016

DateOctober 29, 2017 - 19:39
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

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

Technical analysis:

  • A trough is formed in daily chart at 1.2430 on 10/12/2017, so more gains to resistance(s) 1.2910, 1.3000, 1.3185 and more heights 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 70.

Take Profits:

  1. 1.2775
  2. 1.2910
  3. 1.3000
  4. 1.3185
  5. 1.3315
  6. 1.3535
  7. 1.3795
  8. 1.4000
  9. 1.4200
  10. 1.4690
Click on the level to view price action history.

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