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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 5806 pip
Closed trade(s): 2425 pip Profit
Open trade(s): 3381 pip Profit
_______________________________________________
Trade Setup:
We opened 14 BUY trade(s) @ 0.7055 (day close price) based on 'Valley' at 2016.02.12 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/CADCHF...

Closed Profit:
TP1 @ 0.7110 touched at 2016.02.15 with 55 pip Profit.
TP2 @ 0.7210 touched at 2016.02.17 with 155 pip Profit.
TP3 @ 0.7310 touched at 2016.02.25 with 255 pip Profit.
TP4 @ 0.7425 touched at 2016.03.01 with 370 pip Profit.
TP5 @ 0.7510 touched at 2016.03.07 with 455 pip Profit.
TP6 @ 0.7590 touched at 2016.03.10 with 535 pip Profit.
TP7 @ 0.7655 touched at 2016.04.20 with 600 pip Profit.
55 + 155 + 255 + 370 + 455 + 535 + 600 = 2425 pip

Open Profit:
Profit for one trade is 0.7538(current price) - 0.7055(open price) = 483 pip
7 trade(s) still open, therefore total profit for open trade(s) is 483 x 7 = 3381 pip
_______________________________________________

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 02/15/2016
    • 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)
    • Trough on 01/15/2015
    • Support on 01/15/2015

DateJune 4, 2016 - 16:59
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • The current trend is uptrend and the forecast is continuation of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 0.7420 on 05/05/2016, so more gains to resistance(s) 0.7590, 0.7655, 0.7750 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 46.

Take Profits:

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