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Weekly forecast Australian Dollar / Swiss Franc technical chart
Symbol AUDCHF

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Trade Setup

#AUDCHF
Total Profit: 2832 pip
Closed trade(s): 844 pip Profit
Open trade(s): 1988 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 0.7141 based on 'Peak' at 2021.03.22 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.7085 touched at 2021.04.07 with 56 pip Profit.
TP2 @ 0.6975 touched at 2021.05.17 with 166 pip Profit.
TP3 @ 0.6910 touched at 2021.06.04 with 231 pip Profit.
TP4 @ 0.6750 touched at 2021.07.19 with 391 pip Profit.
56 + 166 + 231 + 391 = 844 pip

Open Profit:
Profit for one trade is 0.7141(open price) - 0.6644(current price) = 497 pip
4 trade(s) still open, therefore total profit for open trade(s) is 497 x 4 = 1988 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 0.6910 is broken, we will close open trades.

DateJuly 31, 2021 - 10:59
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBearish

Midterm forecast:

  • 0.6910 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 0.6910 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.6800 on 07/23/2021, so more losses to support(s) 0.6580, 0.6490, 0.6370 and more depths 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 24.

Take Profits:

  1. 0.7085
  2. 0.6975
  3. 0.6910
  4. 0.6750
  5. 0.6580
  6. 0.6490
  7. 0.6370
Click on the level to view price action history.