ForecastCity

There is a possibility for second chance to buy in EURCAD

Long
FX:EURCAD   Euro / Canadian Dollar
Trading suggestion:
If the Midterm level 1.5050 is broken, we will close open trades.
Price may also reach 1.5050, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to OUR STRATEGY, and depends on personal strategies.

Midterm forecast:
While the price is above the support 1.5050, resumption of uptrend is expected.
We make sure when the resistance at 1.5990 breaks.
If the support at 1.5050 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1.5050 is broken.

Technical analysis:
A trough is formed in daily chart at 1.5050 on 04/30/2020, so more gains to resistance(s) 1.5640, 1.5815 and maximum to Major Resistance (1.5990) 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 57.

Trade Setup:
We opened 7 BUY trade(s) @ 1.4798 (day close price) based on 'Valley' at 2019.08.23 signaled by our Daily Trading Opportunity :

Total Profit: 3457 pip
Closed trade(s): 2115 pip Profit
Open trade(s): 1342 pip Profit

Closed Profit:
TP1 @ 1.4860 touched at 2020.02.28 with 62 pip Profit.
TP2 @ 1.4970 touched at 2020.03.03 with 172 pip Profit.
TP3 @ 1.5195 touched at 2020.03.06 with 397 pip Profit.
TP4 @ 1.5440 touched at 2020.03.09 with 642 pip Profit.
TP5 @ 1.5640 touched at 2020.03.09 with 842 pip Profit.
62 + 172 + 397 + 642 + 842 = 2115 pip

Open Profit:
Profit for one trade is 1.5469(current price) - 1.4798(open price) = 671 pip
2 trade(s) still open, therefore total profit for open trade(s) is 671 x 2 = 1342 pip

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