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Weekly forecast Euro / Canadian Dollar technical chart
Symbol EURCAD
Trade Setup

#EURCAD
Total Profit: -1719 pip
Closed trade(s): 126 pip Profit
Open trade(s): -1845 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.4474 (day close price) based on 'Valley' at 2021.11.26 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.4600 touched at 2021.12.20 with 126 pip Profit.

Open Profit:
Profit for one trade is 1.4269(current price) - 1.4474(open price) = -205 pip
9 trade(s) still open, therefore total profit for open trade(s) is -205 x 9 = -1845 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJanuary 22, 2022 - 12:53
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.41680, beginning of uptrend is expected.
  • We make sure when the resistance at 1.46000 breaks.
  • If the support at 1.41680 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.4100 on 01/20/2022, so more gains to resistance(s) 1.4272, 1.4415 and maximum to Major Resistance (1.4600) 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. 1.4600
  2. 1.4660
  3. 1.4795
  4. 1.4925
  5. 1.5093
  6. 1.5381
  7. 1.5591
  8. 1.5778
  9. 1.5973
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Canadian Dollar (EURCAD) Sun, 24 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 17 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 10 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 3 Mar 2024
Euro / Canadian Dollar (EURCAD) Sun, 25 Feb 2024