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Weekly forecast Australian Dollar vs. Swiss Franc technical chart
Symbol AUDCHF

Download MT4 template file

Trade Setup

#AUDCHF
Total Profit: 1648 pip
Closed trade(s): 353 pip Profit
Open trade(s): 1295 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 0.7526 (day close price) based on 'Peak' at 2018.05.14 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.7480 touched at 2018.05.15 with 46 pip Profit.
TP2 @ 0.7415 touched at 2018.05.29 with 111 pip Profit.
TP3 @ 0.7330 touched at 2018.06.19 with 196 pip Profit.
46 + 111 + 196 = 353 pip

Open Profit:
Profit for one trade is 0.7526(open price) - 0.7341(current price) = 185 pip
7 trade(s) still open, therefore total profit for open trade(s) is 185 x 7 = 1295 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.

DateSat, 07/07/2018 - 17:48
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.7585 would begin in Midterm.

Technical analysis:

  • The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.7575 on 06/06/2018, so more losses to support(s) 0.7330, 0.7240, 0.7145 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 44.

Take Profits:

  1. 0.7480
  2. 0.7415
  3. 0.7330
  4. 0.7240
  5. 0.7145
  6. 0.7065
  7. 0.6805
  8. 0.6540
  9. 0.6035
Click on the level to view price action history.