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Weekly forecast Canadian Dollar / Swiss Franc technical chart

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateOctober 24, 2020 - 21:24
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 0.7005, beginning of downtrend is expected.
  • We make sure when the support at 0.6605 breaks.
  • If the resistance at 0.7005 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 0.6975 on 10/14/2020, so more losses to support(s) 0.6850, 0.6800, 0.6725 and minimum to Major Support (0.6605) 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.

Supports and Resistances:

  1. 0.7440
  2. 0.7340
  3. 0.7200
  4. 0.7135
  5. 0.7065
  6. 0.6955
  7. 0.6800
  8. 0.6725
  9. 0.6605
Click on the level to view price action history.