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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

Download MT4 template file

Trade Setup

#USDCAD
Total Profit: 3688 pip
Closed trade(s): 934 pip Profit
Open trade(s): 2754 pip Profit
_______________________________________________
Trade Setup:
We opened 10 BUY trade(s) @ 1.2424 (day close price) based on 'Peak' at 2018.02.02 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 1.2465 touched at 2018.02.05 with 41 pip Profit.
TP2 @ 1.2590 touched at 2018.02.08 with 166 pip Profit.
TP3 @ 1.2665 touched at 2018.02.09 with 241 pip Profit.
TP4 @ 1.2910 touched at 2018.03.02 with 486 pip Profit.
41 + 166 + 241 + 486 = 934 pip

Open Profit:
Profit for one trade is 1.2883(current price) - 1.2424(open price) = 459 pip
6 trade(s) still open, therefore total profit for open trade(s) is 459 x 6 = 2754 pip
_______________________________________________

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.25900 is broken, we will close open trades.

DateMarch 3, 2018 - 20:58
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 an uptrend wave above 1.25900 would begin in Midterm.
  • We will close our open trades, if the Midterm level 1.25900 is broken.

Technical analysis:

  • A trough is formed in daily chart at 1.2615 on 02/26/2018, so more gains to resistance(s) 1.2910, 1.3185, 1.3315 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 71.

Take Profits:

  1. 1.2465
  2. 1.2590
  3. 1.2665
  4. 1.2910
  5. 1.3185
  6. 1.3315
  7. 1.3795
  8. 1.4200
  9. 1.4690
Click on the level to view price action history.

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