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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 7735 pip
Closed trade(s): 7735 pip Profit
Open trade(s): 0 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:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

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.
TP9 @ 0.7950 touched at 2017.09.14 with 900 pip Profit.
60 + 160 + 260 + 375 + 460 + 540 + 605 + 700 + 900 = 4060 pip

Closed Profit:
Profit for one trade is 0.7785(current price) - 0.7050(open price) = 735 pip
5 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 735 x 5 = 3675 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.7805 to 0.7960). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (0.7805)
    • Support on 10/19/2017
    • Support on 10/18/2017
    • Resistance on 10/16/2017
    • Resistance on 10/10/2017
    • Resistance on 10/09/2017
    • Resistance on 10/06/2017
    • Resistance on 10/03/2017
    • Resistance on 10/02/2017
    • Resistance on 09/29/2017
    • Support on 09/26/2017
    • Support on 09/25/2017
    • Support on 09/19/2017
    • Support on 09/18/2017
    • Resistance on 07/31/2017
    • Resistance on 07/28/2017
    • Peak on 07/28/2017
    • Support on 04/29/2015
    • Resistance on 04/13/2015
    • Resistance on 04/10/2015
    • Support on 03/10/2015
    • Resistance on 03/06/2015
    • Resistance on 03/05/2015
    • Trough on 03/27/2014
    • Trough on 03/24/2014
    • Trough on 03/21/2014
    • Trough on 03/20/2014
    • Trough on 03/19/2014
    • Support on 03/19/2014
    • Trough on 04/13/2012
  • Ending of entry zone (0.7960)
    • Resistance on 09/14/2017
    • Peak on 09/14/2017
    • Resistance on 04/29/2015
    • Resistance on 04/28/2015
    • Support on 04/28/2014
    • Support on 03/27/2014
    • Support on 03/04/2014
    • Support on 02/27/2014
    • Support on 02/24/2014
    • Support on 02/21/2014

DateOctober 29, 2017 - 15:41
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • The current trend is uptrend but the forecast is beginning of downtrend.

Technical analysis:

  • A trough is formed in daily chart at 0.7705 on 10/25/2017, so more gains maximum to Trend Hunter Sell Zone (0.7805 to 0.7960) 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 49.

Take Profits:

  1. 0.7730
  2. 0.7640
  3. 0.7540
  4. 0.7440
  5. 0.7275
  6. 0.7125
  7. 0.6970
  8. 0.6900
  9. 0.6805
Click on the level to view price action history.