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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

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Trade Setup
#AUDCAD
Total Profit: -1835 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1835 pip Profit

Trade Setup:
We opened 5 SELL trade(s) @ 0.9485 (day close price) based on 'Peak' at 2020.12.04 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Open Profit:
Profit for one trade is 0.9485(open price) - 0.9852(current price) = -367 pip
5 trade(s) still open, therefore total profit for open trade(s) is -367 x 5 = -1835 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.

DateJanuary 9, 2021 - 21:02
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.99350, beginning of downtrend is expected.
  • We make sure when the support at 0.96150 breaks.
  • If the resistance at 0.99350 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.9455 on 12/07/2020, so more gains maximum to Major Resistance (0.9935) 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 69.

Take Profits:

  1. 0.9430
  2. 0.9305
  3. 0.9245
  4. 0.9065
Click on the level to view price action history.