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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trade Setup
#USDCAD
Total Profit: 69 pip
Closed trade(s): 69 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 11 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 @ 1.3375 touched at 2019.05.22 with 12 pip Profit.
TP2 @ 1.3330 touched at 2019.06.07 with 57 pip Profit.
12 + 57 = 69 pip

9 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.3430 to 1.3525). 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 (1.3430)
    • Support on 03/10/2017
    • Support on 03/13/2017
    • Support on 03/14/2017
    • Resistance on 04/04/2017
    • Resistance on 04/06/2017
    • Resistance on 04/07/2017
    • Resistance on 04/10/2017
    • Support on 05/26/2017
    • Support on 05/29/2017
    • Support on 05/31/2017
    • Support on 06/06/2017
    • Support on 06/07/2017
    • Support on 06/09/2017
    • Resistance on 12/06/2018
    • Resistance on 12/11/2018
    • Resistance on 03/11/2019
    • Resistance on 03/22/2019
    • Resistance on 03/25/2019
    • Resistance on 03/27/2019
    • Resistance on 03/29/2019
    • Resistance on 04/23/2019
    • Support on 05/15/2019
    • Support on 05/16/2019
    • Support on 05/17/2019
    • Resistance on 05/21/2019
    • Support on 05/23/2019
    • Support on 05/24/2019
    • Support on 05/27/2019
    • Support on 05/28/2019
    • Support on 06/03/2019
    • Resistance on 06/06/2019
  • Ending of entry zone (1.3525)
    • Resistance on 11/17/2016
    • Resistance on 11/18/2016
    • Resistance on 11/21/2016
    • Resistance on 11/23/2016
    • Resistance on 11/24/2016
    • Resistance on 11/25/2016
    • Resistance on 11/28/2016
    • Resistance on 12/22/2016
    • Resistance on 03/09/2017
    • Resistance on 03/10/2017
    • Resistance on 04/21/2017
    • Resistance on 04/24/2017
    • Support on 04/27/2017
    • Resistance on 05/24/2017
    • Resistance on 05/31/2017
    • Resistance on 06/01/2017
    • Resistance on 06/02/2017
    • Resistance on 06/07/2017
    • Resistance on 06/08/2017
    • Resistance on 06/09/2017
    • Resistance on 12/20/2018
    • Resistance on 04/24/2019
    • Resistance on 05/29/2019
    • Resistance on 05/30/2019
    • Resistance on 05/31/2019
    • Resistance on 06/03/2019

DateJune 16, 2019 - 10:26
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 1.31800 breaks.
  • If the resistance at 1.36650 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 47 is broken, so the probability of beginning of downtrend is increased.
  • A trough is formed in daily chart at 1.3241 on 06/10/2019, so more gains to resistance(s) 1.3430, 1.3525 and maximum to Major Resistance (1.3665) 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 51.

Take Profits:

  1. 1.3375
  2. 1.3330
  3. 1.3240
  4. 1.3180
  5. 1.3070
  6. 1.2915
  7. 1.2775
  8. 1.2525
  9. 1.2250
  10. 1.2060
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Canadian Dollar (USDCAD) Sat, 23 Mar 2024
US Dollar / Canadian Dollar (USDCAD) free Sun, 17 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sat, 9 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sat, 2 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sun, 25 Feb 2024