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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 152 pip
Closed trade(s): 152 pip Profit
Open trade(s): 0 pip Profit
_______________________________________________
Trade Setup:
We opened 19 BUY trade(s) @ 0.7309 (day close price) based on 'Valley' at 2015.09.30 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/CADCHF...

Closed Profit:
TP1 @ 0.7345 touched at 2015.10.01 with 36 pip Profit.
TP2 @ 0.7425 touched at 2015.10.05 with 116 pip Profit.
36 + 116 = 152 pip

All 17 trades closed at entry price, therefore no profit no loss.
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.7310 to 0.7210). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.7310)
    • Support on 10/20/2015
    • Trough on 10/16/2015
    • Trough on 10/15/2015
    • Trough on 10/14/2015
    • Support on 10/14/2015
    • Support on 10/13/2015
    • Resistance on 09/30/2015
    • Support on 09/25/2015
    • Support on 09/24/2015
    • Support on 09/23/2015
    • Support on 09/22/2015
    • Support on 09/21/2015
    • Support on 09/16/2015
    • Support on 09/10/2015
    • Support on 09/08/2015
    • Support on 09/07/2015
    • Support on 09/04/2015
    • Resistance on 09/02/2015
    • Support on 08/20/2015
    • Support on 02/11/2015
  • Ending of entry zone (0.7210)
    • Trough on 10/01/2015
    • Trough on 09/30/2015
    • Trough on 09/29/2015
    • Support on 09/29/2015
    • Support on 09/02/2015
    • Support on 08/28/2015

DateOctober 24, 2015 - 15:52
Currentrange bound
Forecastresumption of uptrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 0.7310 on 10/20/2015, so more gains to resistance(s) 0.7510, 0.7590, 0.7655 and more heights 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 56.

Take Profits:

  1. 0.7425
  2. 0.7510
  3. 0.7590
  4. 0.7655
  5. 0.7750
  6. 0.7950
  7. 0.8250
  8. 0.8480
  9. 0.8635
  10. 0.9020
  11. 0.9220
  12. 0.9540
  13. 0.9900
Click on the level to view price action history.