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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

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Trade Setup

#AUDCAD
Total Profit: 821 pip
Closed trade(s): 83 pip Profit
Open trade(s): 738 pip Profit
_______________________________________________
Trade Setup:
We opened 10 BUY trade(s) @ 0.9752 (day close price) based on 'Two-Day Reversal Candle (Hammer)' at 2017.10.12 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.9835 touched at 2017.10.13 with 83 pip Profit.

Open Profit:
Profit for one trade is 0.9834(current price) - 0.9752(open price) = 82 pip
9 trade(s) still open, therefore total profit for open trade(s) is 82 x 9 = 738 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.9745 to 0.9600). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.9745)
    • Support on 10/13/2017
    • Resistance on 10/11/2017
    • Support on 10/05/2017
    • Support on 09/29/2017
    • Support on 09/28/2017
    • Support on 09/22/2017
    • Support on 09/18/2017
    • Support on 09/08/2017
    • Support on 09/07/2017
    • Support on 09/06/2017
    • Support on 07/12/2017
    • Support on 01/11/2017
    • Resistance on 01/09/2017
    • Resistance on 01/06/2017
    • Resistance on 01/04/2017
    • Resistance on 12/30/2016
    • Resistance on 12/29/2016
    • Resistance on 12/26/2016
    • Resistance on 12/23/2016
    • Resistance on 12/22/2016
    • Support on 07/21/2016
    • Support on 07/20/2016
    • Support on 07/19/2016
    • Resistance on 07/07/2016
    • Resistance on 07/06/2016
    • Resistance on 06/24/2016
    • Support on 04/26/2016
    • Support on 04/13/2016
    • Support on 02/09/2016
    • Support on 12/09/2015
    • Support on 12/08/2015
    • Support on 12/04/2015
    • Support on 12/03/2015
    • Resistance on 08/10/2015
    • Resistance on 08/07/2015
    • Peak on 08/06/2015
    • Peak on 08/05/2015
    • Resistance on 08/05/2015
    • Peak on 08/04/2015
    • Resistance on 08/04/2015
    • Peak on 05/18/2015
    • Peak on 05/15/2015
    • Peak on 05/14/2015
    • Resistance on 05/14/2015
    • Resistance on 03/30/2015
    • Support on 03/27/2015
    • Support on 03/26/2015
    • Resistance on 03/19/2015
    • Resistance on 03/18/2015
    • Peak on 03/09/2015
    • Resistance on 03/09/2015
    • Resistance on 03/06/2015
    • Support on 02/27/2015
    • Support on 02/26/2015
    • Resistance on 02/19/2015
    • Resistance on 02/13/2015
    • Resistance on 02/12/2015
    • Support on 02/11/2015
    • Resistance on 02/09/2015
    • Resistance on 02/05/2015
    • Resistance on 02/04/2015
    • Support on 01/29/2015
    • Resistance on 01/09/2015
    • Resistance on 11/28/2014
    • Support on 11/07/2014
    • Support on 11/06/2014
    • Support on 11/05/2014
    • Support on 10/07/2014
    • Support on 10/06/2014
    • Support on 10/03/2014
    • Support on 10/02/2014
    • Support on 10/01/2014
    • Support on 09/26/2014
    • Support on 09/25/2014
    • Support on 09/22/2014
    • Support on 01/30/2014
    • Resistance on 01/24/2014
    • Support on 01/15/2014
    • Peak on 12/11/2013
    • Peak on 12/09/2013
    • Peak on 12/06/2013
    • Peak on 12/05/2013
    • Peak on 12/04/2013
    • Resistance on 12/03/2013
    • Peak on 12/03/2013
    • Support on 11/20/2013
    • Support on 11/15/2013
    • Support on 11/14/2013
    • Support on 11/13/2013
    • Support on 11/12/2013
    • Resistance on 10/07/2013
    • Resistance on 10/04/2013
    • Resistance on 09/18/2013
    • Resistance on 06/27/2013
    • Resistance on 06/26/2013
    • Resistance on 06/25/2013
    • Resistance on 06/24/2013
    • Resistance on 06/18/2013
    • Resistance on 06/17/2013
    • Resistance on 03/17/2011
    • Support on 03/15/2011
    • Support on 03/11/2011
    • Support on 03/10/2011
    • Support on 01/17/2011
    • Support on 01/12/2011
    • Support on 01/11/2011
    • Support on 12/02/2010
  • Ending of entry zone (0.9600)
    • Support on 01/02/2017
    • Support on 06/30/2016
    • Support on 06/29/2016
    • Support on 06/24/2016
    • Resistance on 06/21/2016
    • Resistance on 06/16/2016
    • Resistance on 05/06/2016
    • Resistance on 05/05/2016
    • Resistance on 05/04/2016
    • Support on 03/02/2016
    • Support on 03/01/2016

DateOctober 14, 2017 - 20:16
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 0.9695 on 10/12/2017, so more gains to resistance(s) 0.9835, 0.9900, 0.9990 and more heights 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 54.

Take Profits:

  1. 0.9835
  2. 0.9900
  3. 0.9990
  4. 1.0090
  5. 1.0165
  6. 1.0250
  7. 1.0350
  8. 1.0780
  9. 1.1020
Click on the level to view price action history.