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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF
Trade Setup

#CADCHF
Total Profit: 868 pip
Closed trade(s): 202 pip Profit
Open trade(s): 666 pip Profit

Trade Setup:
We opened 11 BUY trades @ 0.62403 based on 'Valley' entry method at 2024-11-05, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 0.63173 touched at 2024-11-11 with 77 pip Profit.
TP2 @ 0.63650 touched at 2024-11-22 with 125 pip Profit.
77 + 125 = 202 pip

Open Profit:
Profit for one BUY trade is 0.63139(current price) - 0.62403(open price) = 74 pip
9 trade(s) still open, therefore total profit for open trade(s) is 74 x 9 = 666 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateDecember 2, 2024 - 14:10
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.61505, beginning of uptrend is expected.
  • We make sure when the resistance at 0.64342 breaks.
  • If the support at 0.61505 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.61875 on 10/31/2024, so more gains to resistance(s) 0.63173, 0.63650 and maximum to Major Resistance (0.64342) 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 53.

Take Profits:

  1. 0.63173
  2. 0.63650
  3. 0.64342
  4. 0.64839
  5. 0.65570
  6. 0.66164
  7. 0.67184
  8. 0.68275
  9. 0.69297
  10. 0.71000
Click on the level to view price action history.
Symbol Released Current Forecast
Canadian Dollar / Swiss Franc (CADCHF) free Mon, 13 Jan 2025
Canadian Dollar / Swiss Franc (CADCHF) Sun, 5 Jan 2025
Canadian Dollar / Swiss Franc (CADCHF) Sun, 29 Dec 2024
Canadian Dollar / Swiss Franc (CADCHF) Tue, 24 Dec 2024
Canadian Dollar / Swiss Franc (CADCHF) Sun, 15 Dec 2024
History
Daily-Trading-Opportunities on CADCHF.