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Weekly forecast Canadian Dollar / Swiss Franc technical chart

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Trade Setup

Total Profit: 435 pip
Closed trade(s): 64 pip Profit
Open trade(s): 371 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 0.7444 based on 'Peak' at 2021.05.13 signaled by DTO:

Closed Profit:
TP1 @ 0.7380 touched at 2021.06.11 with 64 pip Profit.

Open Profit:
Profit for one trade is 0.7444(open price) - 0.7391(current price) = 53 pip
7 trade(s) still open, therefore total profit for open trade(s) is 53 x 7 = 371 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJune 19, 2021 - 18:41
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 0.7525, beginning of downtrend is expected.
  • We make sure when the support at 0.7255 breaks.
  • If the resistance at 0.7525 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.7475 on 06/03/2021, so more losses to support(s) 0.7380, 0.7310 and minimum to Major Support (0.7255) 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 46.

Take Profits:

  1. 0.7380
  2. 0.7310
  3. 0.7255
  4. 0.7200
  5. 0.7140
  6. 0.7060
  7. 0.6900
Click on the level to view price action history.