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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup
#CADCHF
Total Profit: 770 pip
Closed trade(s): 112 pip Profit
Open trade(s): 658 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 0.7591 (day close price) based on 'Peak' at 2019.10.29 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 0.7555 touched at 2019.10.30 with 36 pip Profit.
TP2 @ 0.7515 touched at 2019.10.30 with 76 pip Profit.
36 + 76 = 112 pip

Open Profit:
Profit for one trade is 0.7591(open price) - 0.7497(current price) = 94 pip
7 trade(s) still open, therefore total profit for open trade(s) is 94 x 7 = 658 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.

DateNovember 2, 2019 - 16:31
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.74250 would begin in Midterm.

Technical analysis:

  • The RSI bounced from the downtrend #1 and it prevented price from more gains.
  • A peak is formed in daily chart at 0.7635 on 10/28/2019, so more losses to support(s) 0.7460 and minimum to Major Support (0.7425) 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 46.

Take Profits:

  1. 0.7555
  2. 0.7515
  3. 0.7460
  4. 0.7425
  5. 0.7340
  6. 0.7265
  7. 0.7175
  8. 0.7125
Click on the level to view price action history.