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Weekly forecast Australian Dollar / Swiss Franc technical chart
Symbol AUDCHF
Trade Setup

#AUDCHF
Total Profit: -550 pip
Closed trade(s): 0 pip Profit
Open trade(s): -550 pip Profit

Trade Setup:
We opened 11 BUY trades @ 0.64591 based on 'Valley' entry method at 2022-10-03.

Open Profit:
Profit for one BUY trade is 0.64087(current price) - 0.64591(open price) = -50 pip
11 trade(s) still open, therefore total profit for open trade(s) is -50 x 11 = -550 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, 2023 - 17:32
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.61600, beginning of uptrend is expected.
  • We make sure when the resistance at 0.65300 breaks.
  • If the support at 0.61600 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.62098 on 2022-10-13 and the trough at 0.61634 on 2022-12-21, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.62985 on 01/19/2023, so more gains to resistance(s) 0.64680 and maximum to Major Resistance (0.65300) 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 56.

Take Profits:

  1. 0.65300
  2. 0.65643
  3. 0.66368
  4. 0.67124
  5. 0.67715
  6. 0.68384
  7. 0.68956
  8. 0.70001
  9. 0.70800
  10. 0.72600
Click on the level to view price action history.