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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trade Setup
#USDCAD
Total Profit: 1044 pip
Closed trade(s): 164 pip Profit
Open trade(s): 880 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...

Closed Profit:
TP1 @ 1.3330 touched at 2019.06.07 with 57 pip Profit.
TP2 @ 1.3280 touched at 2019.06.07 with 107 pip Profit.
57 + 107 = 164 pip

Open Profit:
Profit for one trade is 1.3387(open price) - 1.3277(current price) = 110 pip
8 trade(s) still open, therefore total profit for open trade(s) is 110 x 8 = 880 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.
  • If the Midterm level 1.33750 is broken, we will close open trades.

DateJune 8, 2019 - 21:58
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.33750, beginning of downtrend is expected.
  • We make sure when the support at 1.30700 breaks.
  • If the resistance at 1.33750 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.33750 is broken.

Technical analysis:

  • The RSI support #1 at 47 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.3565 on 05/31/2019, so more losses to support(s) 1.3180 and minimum to Major Support (1.3070) 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 35.

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.

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