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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 1097 pip
Closed trade(s): 161 pip Profit
Open trade(s): 936 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 0.7743 (day close price) based on 'Two-day reversal candle (Shooting Star)' at 2018.05.22 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 0.7705 touched at 2018.05.23 with 38 pip Profit.
TP2 @ 0.7620 touched at 2018.05.25 with 123 pip Profit.
38 + 123 = 161 pip

Open Profit:
Profit for one trade is 0.7743(open price) - 0.7626(current price) = 117 pip
8 trade(s) still open, therefore total profit for open trade(s) is 117 x 8 = 936 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.7820 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 (0.7820)
    • Support on 09/20/2017
    • Resistance on 09/29/2017
    • Resistance on 10/04/2017
    • Resistance on 10/05/2017
    • Resistance on 10/06/2017
    • Resistance on 10/09/2017
    • Resistance on 10/10/2017
    • Resistance on 10/12/2017
    • Resistance on 10/13/2017
    • Resistance on 10/16/2017
    • Resistance on 10/17/2017
    • Resistance on 10/20/2017
    • Resistance on 10/23/2017
    • Resistance on 10/24/2017
    • Resistance on 10/25/2017
    • Peak on 12/06/2017
    • Resistance on 12/06/2017
    • Resistance on 12/27/2017
    • Resistance on 01/03/2018
    • Resistance on 05/09/2018
    • Resistance on 05/14/2018
    • Resistance on 05/15/2018
    • Resistance on 05/18/2018
    • Resistance on 05/22/2018
  • Ending of entry zone (0.7960)
    • Support on 02/21/2014
    • Support on 02/24/2014
    • Support on 02/27/2014
    • Support on 03/04/2014
    • Support on 03/27/2014
    • Support on 04/28/2014
    • Resistance on 04/28/2015
    • Resistance on 04/29/2015
    • Peak on 09/14/2017
    • Resistance on 09/14/2017
DateMay 26, 2018 - 20:10
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.79600, beginning of downtrend is expected.
  • We make sure when the support at 0.76200 breaks.
  • If the resistance at 0.79600 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI bounced from the resistance #1 at 74 and it prevented price from more gains.
  • The RSI support #2 at 60 is broken, so the probability of beginning of downtrend is increased.
  • The RSI uptrend #3 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 0.7865 on 05/11/2018, so more losses to more depths 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 41.

Take Profits:

  1. 0.7705
  2. 0.7620
  3. 0.7570
  4. 0.7485
  5. 0.7425
  6. 0.7365
  7. 0.7225
  8. 0.7125
  9. 0.6805
Click on the level to view price action history.
Symbol Released Current Forecast
Canadian Dollar / Swiss Franc (CADCHF) new Sun, 14 Apr 2024
Canadian Dollar / Swiss Franc (CADCHF) free Sun, 7 Apr 2024
Canadian Dollar / Swiss Franc (CADCHF) free Sun, 31 Mar 2024
Canadian Dollar / Swiss Franc (CADCHF) Sun, 24 Mar 2024
Canadian Dollar / Swiss Franc (CADCHF) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on CADCHF.