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

#AUDCHF
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.
Symbol Released Current Forecast
Australian Dollar / Swiss Franc (AUDCHF) Sat, 25 Nov 2023
Australian Dollar / Swiss Franc (AUDCHF) Sun, 19 Nov 2023
Australian Dollar / Swiss Franc (AUDCHF) Sun, 12 Nov 2023
Australian Dollar / Swiss Franc (AUDCHF) Sun, 5 Nov 2023
Australian Dollar / Swiss Franc (AUDCHF) Sun, 29 Oct 2023
History
Daily-Trading-Opportunities on AUDCHF.