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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trade Setup
#USDCAD
Total Profit: -770 pip
Closed trade(s): 0 pip Profit
Open trade(s): -770 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 1.3387 (day close price) based on 'Peak' at 2019.04.30 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Open Profit:
Profit for one trade is 1.3387(open price) - 1.3464(current price) = -77 pip
10 trade(s) still open, therefore total profit for open trade(s) is -77 x 10 = -770 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateMay 18, 2019 - 21:56
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.36650, beginning of downtrend is expected.
  • We make sure when the support at 1.30700 breaks.
  • If the resistance at 1.36650 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 47 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.3505 on 05/09/2019, so more losses to support(s) 1.3450, 1.3375, 1.3330 and minimum to Major Support (1.3070) 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 55.

Take Profits:

  1. 1.3330
  2. 1.3280
  3. 1.3180
  4. 1.3070
  5. 1.2915
  6. 1.2775
  7. 1.2525
  8. 1.2250
  9. 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.