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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

Download MT4 template file

Trade Setup
#CADCHF
Total Profit: 0 pip
Closed trade(s): 0 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 5 SELL trade(s) @ 0.6971 (day close price) based on 'Shooting star(Two-day reversal candle)' at 2020.06.23 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

All 5 trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.7010 to 0.7065). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.7010)
    • Support on 01/15/2015
    • Support on 01/23/2015
    • Support on 01/26/2015
    • Support on 01/08/2016
    • Support on 01/11/2016
    • Support on 01/12/2016
    • Support on 01/13/2016
    • Resistance on 01/15/2016
    • Support on 02/09/2016
    • Resistance on 04/29/2020
    • Resistance on 04/30/2020
    • Resistance on 05/19/2020
    • Resistance on 05/26/2020
    • Resistance on 05/29/2020
    • Resistance on 06/12/2020
    • Resistance on 06/15/2020
    • Resistance on 06/18/2020
    • Resistance on 06/19/2020
    • Resistance on 06/22/2020
    • Resistance on 06/23/2020
  • Ending of entry zone (0.7065)
    • Resistance on 03/06/2020
    • Resistance on 05/27/2020
    • Support on 06/02/2020
    • Support on 06/04/2020
    • Support on 06/05/2020
    • Support on 06/09/2020
DateJuly 4, 2020 - 22:00
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.72000, beginning of downtrend is expected.
  • We make sure when the support at 0.66050 breaks.
  • If the resistance at 0.72000 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • While the RSI support #2 at 42 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 0.6912 on 06/29/2020, so more gains to resistance(s) 0.7010, 0.7065, 0.7135 and maximum to Major Resistance (0.7200) 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 48.

Take Profits:

  1. 0.6955
  2. 0.6900
  3. 0.6800
  4. 0.6725
  5. 0.6605
Click on the level to view price action history.
Symbol Released Current Forecast
Canadian Dollar / Swiss Franc (CADCHF) Sun, 14 Apr 2024
Canadian Dollar / Swiss Franc (CADCHF) free Sun, 7 Apr 2024
Canadian Dollar / Swiss Franc (CADCHF) free Sun, 31 Mar 2024
Canadian Dollar / Swiss Franc (CADCHF) Sun, 24 Mar 2024
Canadian Dollar / Swiss Franc (CADCHF) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on CADCHF.