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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 6544 pip
Closed trade(s): 3160 pip Profit
Open trade(s): 3384 pip Profit
_______________________________________________
Trade Setup:
We opened 14 BUY trade(s) @ 0.7050 (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 60 pip Profit.
TP2 @ 0.7210 touched at 2016.02.17 with 160 pip Profit.
TP3 @ 0.7310 touched at 2016.02.25 with 260 pip Profit.
TP4 @ 0.7425 touched at 2016.03.01 with 375 pip Profit.
TP5 @ 0.7510 touched at 2016.03.07 with 460 pip Profit.
TP6 @ 0.7590 touched at 2016.03.10 with 540 pip Profit.
TP7 @ 0.7655 touched at 2016.04.20 with 605 pip Profit.
TP8 @ 0.7750 touched at 2016.12.09 with 700 pip Profit.
60 + 160 + 260 + 375 + 460 + 540 + 605 + 700 = 3160 pip

Open Profit:
Profit for one trade is 0.7614(current price) - 0.7050(open price) = 564 pip
6 trade(s) still open, therefore total profit for open trade(s) is 564 x 6 = 3384 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
    • Support on 02/11/2016
    • Trough 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

DateJuly 15, 2017 - 18:21
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 0.7435 on 07/12/2017, so more gains to resistance(s) 0.7655, 0.7750, 0.7950 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 70.

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.