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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

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Trade Setup
#USDCAD
Total Profit: 2503 pip
Closed trade(s): 685 pip Profit
Open trade(s): 1818 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 1.3376 (day close price) based on 'Peak' at 2019.06.18 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 1.3375 touched at 2019.06.19 with 1 pip Profit.
TP2 @ 1.3330 touched at 2019.06.19 with 46 pip Profit.
TP3 @ 1.3240 touched at 2019.06.20 with 136 pip Profit.
TP4 @ 1.3180 touched at 2019.06.20 with 196 pip Profit.
TP5 @ 1.3070 touched at 2019.06.28 with 306 pip Profit.
1 + 46 + 136 + 196 + 306 = 685 pip

Open Profit:
Profit for one trade is 1.3376(open price) - 1.3073(current price) = 303 pip
6 trade(s) still open, therefore total profit for open trade(s) is 303 x 6 = 1818 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 1.32400 is broken, we will close open trades.
DateJuly 6, 2019 - 21:26
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.32400 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 1.32400 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.3241 on 06/10/2019, so more gains to resistance(s) 1.3135, 1.3180 and maximum to Major Resistance (1.3240) 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 33.

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) 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.