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Weekly forecast Australian Dollar / Swiss Franc technical chart
Symbol AUDCHF

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Trade Setup

#AUDCHF
Total Profit: 2208 pip
Closed trade(s): 353 pip Profit
Open trade(s): 1855 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) - 0.7261(current price) = 265 pip
7 trade(s) still open, therefore total profit for open trade(s) is 265 x 7 = 1855 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 0.74150 is broken, we will close open trades.
DateAugust 11, 2018 - 10:26
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.74150, beginning of downtrend is expected.
  • We make sure when the support at 0.72400 breaks.
  • If the resistance at 0.74150 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.74150 is broken.

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 bounced from the downtrend #1 and it prevented price from more gains.
  • A peak is formed in daily chart at 0.7400 on 08/07/2018, so more losses minimum to Major Support (0.7240) 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 38.

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.
Symbol Released Current Forecast
Australian Dollar / Swiss Franc (AUDCHF) free Sun, 14 Apr 2024
Australian Dollar / Swiss Franc (AUDCHF) free Sun, 7 Apr 2024
Australian Dollar / Swiss Franc (AUDCHF) free Sat, 30 Mar 2024
Australian Dollar / Swiss Franc (AUDCHF) free Sun, 24 Mar 2024
Australian Dollar / Swiss Franc (AUDCHF) free Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on AUDCHF.