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Weekly forecast technical chart
Symbol CADCHF

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DateSat, 01/06/2018 - 20:58
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish
Open0.7769
High0.7901 on Fri, 01/05/2018 - 14:00
Low0.7737 on Tue, 01/02/2018 - 11:30
Close0.7848

Midterm forecast:

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

Technical analysis:

  • A trough is formed in daily chart at 0.7635 on 12/19/2017, so more gains maximum to Trend Hunter Sell Zone (0.7900 to 0.7960) 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 65.

Trading suggestion:
There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.7900 to 0.7960), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.7900)
    • Resistance on 01/05/2018
    • Resistance on 09/27/2017
    • Resistance on 09/25/2017
    • Resistance on 09/22/2017
    • Resistance on 09/18/2017
    • Resistance on 09/12/2017
    • Resistance on 09/11/2017
    • Resistance on 04/27/2015
    • Resistance on 04/16/2015
    • Resistance on 03/17/2015
    • Resistance on 03/16/2015
    • Resistance on 03/13/2015
    • Resistance on 03/10/2015
    • Support on 03/26/2014
    • Resistance on 03/24/2014
    • Resistance on 03/21/2014
    • Resistance on 03/18/2014
    • Resistance on 03/17/2014
    • Resistance on 03/14/2014
    • Resistance on 03/13/2014
    • Support on 03/11/2014
    • Support on 03/10/2014
    • Support on 03/07/2014
    • Support on 02/28/2014
    • Support on 09/06/2011
    • Support on 09/05/2011
    • Support on 09/02/2011
  • 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

Take Profits: Click on the level to view price action history.

  1. 0.7805
  2. 0.7730
  3. 0.7640
  4. 0.7540
  5. 0.7440
  6. 0.7275
  7. 0.7125
  8. 0.6970
  9. 0.6900
  10. 0.6805

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