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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

Download MT4 template file

Trade Setup

#USDCAD
Total Profit: 3064 pip
Closed trade(s): 3064 pip Profit
Open trade(s): 0 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

Closed Profit:
Profit for one trade is 1.2779(current price) - 1.2424(open price) = 355 pip
6 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 355 x 6 = 2130 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.2835 to 1.3000). 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 (1.2835)
    • Support on 03/27/2018
    • Support on 03/26/2018
    • Support on 03/23/2018
    • Support on 03/22/2018
    • Support on 03/13/2018
    • Support on 03/02/2018
    • Resistance on 02/28/2018
    • Resistance on 12/21/2017
    • Resistance on 12/14/2017
    • Resistance on 11/21/2017
    • Peak on 11/21/2017
    • Resistance on 11/03/2017
    • Resistance on 10/30/2017
    • Support on 09/07/2016
    • Support on 09/06/2016
    • Support on 08/26/2016
    • Support on 08/17/2016
    • Support on 08/16/2016
    • Support on 07/05/2016
    • Support on 07/04/2016
    • Support on 06/17/2016
    • Resistance on 06/07/2016
    • Support on 05/17/2016
    • Support on 05/13/2016
    • Support on 05/12/2016
    • Support on 05/11/2016
    • Resistance on 04/13/2016
    • Support on 10/15/2015
    • Peak on 03/20/2015
    • Peak on 03/19/2015
    • Resistance on 03/18/2015
    • Peak on 03/18/2015
    • Resistance on 03/13/2015
  • Ending of entry zone (1.3000)
    • Peak on 03/07/2018
    • Resistance on 03/07/2018
    • Resistance on 03/06/2018
    • Resistance on 03/05/2018
    • Resistance on 07/07/2017
    • Resistance on 07/05/2017
    • Resistance on 07/04/2017
    • Support on 06/29/2017
    • Support on 02/16/2017
    • Support on 02/06/2017
    • Support on 02/03/2017
    • Support on 02/02/2017
    • Support on 01/31/2017
    • Support on 10/19/2016
    • Trough on 09/22/2016
    • Support on 09/22/2016
    • Resistance on 09/05/2016
    • Support on 08/30/2016
    • Support on 08/10/2016
    • Support on 08/05/2016
    • Support on 08/04/2016
    • Support on 08/02/2016
    • Support on 07/29/2016
    • Resistance on 07/18/2016
    • Resistance on 07/15/2016
    • Resistance on 07/14/2016
    • Support on 07/12/2016
    • Resistance on 07/06/2016
    • Resistance on 07/05/2016
    • Resistance on 06/30/2016
    • Resistance on 06/24/2016
    • Resistance on 06/16/2016
    • Support on 05/19/2016
    • Resistance on 05/09/2016
    • Resistance on 07/21/2015
    • Resistance on 07/20/2015
    • Resistance on 07/17/2015
    • Resistance on 03/10/2009
    • Resistance on 12/05/2008
    • Resistance on 11/21/2008
    • Resistance on 11/20/2008
    • Resistance on 10/28/2008
DateApril 8, 2018 - 19:43
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.31250, beginning of downtrend is expected.
  • We make sure when the support at 1.27300 breaks.
  • If the resistance at 1.31250 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.2945 on 04/02/2018, so more losses to support(s) 1.2665, 1.2590, 1.2465 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 45.

Take Profits:

  1. 1.2665
  2. 1.2590
  3. 1.2465
  4. 1.2250
  5. 1.2060
Click on the level to view price action history.
Symbol Released Current Forecast
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
US Dollar / Canadian Dollar (USDCAD) free Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on USDCAD.