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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 887 pip
Closed trade(s): 483 pip Profit
Open trade(s): 404 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 0.7407 (day close price) based on 'Peak' at 2021.07.06 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 0.7380 touched at 2021.07.08 with 27 pip Profit.
TP2 @ 0.7310 touched at 2021.07.08 with 97 pip Profit.
TP3 @ 0.7255 touched at 2021.07.19 with 152 pip Profit.
TP4 @ 0.7200 touched at 2021.07.19 with 207 pip Profit.
27 + 97 + 152 + 207 = 483 pip

Open Profit:
Profit for one trade is 0.7407(open price) - 0.7306(current price) = 101 pip
4 trade(s) still open, therefore total profit for open trade(s) is 101 x 4 = 404 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.

DateAugust 13, 2021 - 21:17
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 0.75250, resumption of downtrend is expected.
  • We make sure when the support at 0.72550 breaks.
  • If the resistance at 0.75250 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.7383 on 08/12/2021, so more losses 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 49.

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.