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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 912 pip
Closed trade(s): 912 pip Profit
Open trade(s): 0 pip Profit
_______________________________________________
Trade Setup:
We opened 15 BUY trade(s) @ 0.6922 (day close price) based on 'Hammer' at 2016.01.20 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/CADCHF...

Closed Profit:
TP1 @ 0.6970 touched at 2016.01.21 with 48 pip Profit.
TP2 @ 0.7110 touched at 2016.01.22 with 188 pip Profit.
TP3 @ 0.7210 touched at 2016.01.26 with 288 pip Profit.
TP4 @ 0.7310 touched at 2016.01.29 with 388 pip Profit.
48 + 188 + 288 + 388 = 912 pip

All 11 trades closed at entry price, therefore no profit no loss.
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.6900 to 0.6725). 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 (0.6900)
    • Trough on 02/12/2016
    • Trough on 02/11/2016
    • Support on 02/11/2016
    • Support on 01/21/2016
    • Support on 01/22/2015
  • Ending of entry zone (0.6725)
    • Support on 01/15/2015
    • Trough on 01/15/2015
DateFebruary 13, 2016 - 19:27
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

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

Technical analysis:

  • A trough is formed in daily chart at 0.6900 on 02/12/2016, so more gains to resistance(s) 0.7110, 0.7210, 0.7310 and more heights 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 45.

Take Profits:

  1. 0.6970
  2. 0.7110
  3. 0.7210
  4. 0.7310
  5. 0.7425
  6. 0.7510
  7. 0.7590
  8. 0.7655
  9. 0.7750
  10. 0.7950
  11. 0.8250
  12. 0.8635
  13. 0.9540
  14. 0.9900
Click on the level to view price action history.
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History
Daily-Trading-Opportunities on CADCHF.