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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup
#CADCHF
Total Profit: 541 pip
Closed trade(s): 253 pip Profit
Open trade(s): 288 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.
TP3 @ 0.7005 touched at 2020.11.09 with 136 pip Profit.
31 + 86 + 136 = 253 pip

Open Profit:
Profit for one trade is 0.6965(current price) - 0.6869(open price) = 96 pip
3 trade(s) still open, therefore total profit for open trade(s) is 96 x 3 = 288 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.

DateDecember 5, 2020 - 20:38
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.68500, beginning of uptrend is expected.
  • We make sure when the resistance at 0.70500 breaks.
  • If the support at 0.68500 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 trough is formed in daily chart at 0.6893 on 12/03/2020, so more gains to resistance(s) 0.7005 and maximum to Major Resistance (0.7050) 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 52.

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.