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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup
#CADCHF
Total Profit: 177 pip
Closed trade(s): 117 pip Profit
Open trade(s): 60 pip Profit

Trade Setup:
We opened 6 BUY trade(s) @ 0.6869 (day close price) based on 'Valley' at 2020.10.29 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 0.6900 touched at 2020.11.02 with 31 pip Profit.
TP2 @ 0.6955 touched at 2020.11.03 with 86 pip Profit.
31 + 86 = 117 pip

Open Profit:
Profit for one trade is 0.6884(current price) - 0.6869(open price) = 15 pip
4 trade(s) still open, therefore total profit for open trade(s) is 15 x 4 = 60 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.

DateNovember 7, 2020 - 18:40
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 0.70050 breaks.
  • If the support at 0.66050 is broken, the short-term forecast -beginning of uptrend- 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 0.6970 on 11/03/2020, so more losses to support(s) 0.6850, 0.6800, 0.6745 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 47.

Take Profits:

  1. 0.6900
  2. 0.6955
  3. 0.7005
  4. 0.7200
  5. 0.7265
Click on the level to view price action history.