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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 1174 pip
Closed trade(s): 334 pip Profit
Open trade(s): 840 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.
TP3 @ 0.7570 touched at 2018.05.29 with 173 pip Profit.
38 + 123 + 173 = 334 pip

Open Profit:
Profit for one trade is 0.7743(open price) - 0.7623(current price) = 120 pip
7 trade(s) still open, therefore total profit for open trade(s) is 120 x 7 = 840 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateJune 2, 2018 - 17:45
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 0.76050 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 trough is formed in daily chart at 0.7565 on 05/29/2018, so more gains to resistance(s) 0.7705, 0.7820 and maximum to Major Resistance (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 44.

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) 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.