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Weekly forecast Australian Dollar / Swiss Franc technical chart
Trade Setup

Total Profit: -2101 pip
Closed trade(s): 0 pip Profit
Open trade(s): -2101 pip Profit

Trade Setup:
We opened 11 BUY trades @ 0.61668 based on 'Valley' entry method at 2023-03-28.

Open Profit:
Profit for one BUY trade is 0.59762(current price) - 0.61668(open price) = -191 pip
11 trade(s) still open, therefore total profit for open trade(s) is -191 x 11 = -2101 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.

DateMay 20, 2023 - 18:38
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.58500, beginning of uptrend is expected.
  • We make sure when the resistance at 0.62016 breaks.
  • If the support at 0.58500 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 0.60258 on 2023-03-13 and the trough at 0.58495 on 2023-04-26, 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 peak is formed in daily chart at 0.60495 on 05/10/2023, so more losses to support(s) 0.59590, 0.58949 and minimum to Major Support (0.58500) 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 47.

Take Profits:

  1. 0.62016
  2. 0.62762
  3. 0.63500
  4. 0.64400
  5. 0.65641
  6. 0.66368
  7. 0.67194
  8. 0.68181
  9. 0.68956
  10. 0.70001
Click on the level to view price action history.