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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup
#CADCHF
Total Profit: -192 pip
Closed trade(s): 0 pip Profit
Open trade(s): -192 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 0.6920 (day close price) based on 'Valley' at 2020.08.19 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Open Profit:
Profit for one trade is 0.6896(current price) - 0.6920(open price) = -24 pip
8 trade(s) still open, therefore total profit for open trade(s) is -24 x 8 = -192 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.
DateAugust 29, 2020 - 20:54
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

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

Technical analysis:

  • The RSI bounced from the support #1 at 30 and it prevented price from more losses.
  • The RSI resistance #2 at 55 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.6840 on 08/14/2020, so more gains to resistance(s) 0.6900, 0.6955, 0.7010 and maximum to Major Resistance (0.7200) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 51.

Take Profits:

  1. 0.6955
  2. 0.7010
  3. 0.7065
  4. 0.7135
  5. 0.7200
  6. 0.7340
  7. 0.7440
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.