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Weekly forecast Canadian Dollar vs. Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 1230 pip
Closed trade(s): 334 pip Profit
Open trade(s): 896 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) - 0.7615(current price) = 128 pip
7 trade(s) still open, therefore total profit for open trade(s) is 128 x 7 = 896 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.

DateSat, 06/09/2018 - 12:51
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.7960 would begin in Midterm.

Technical analysis:

  • The RSI bounced from the support #1 at 39 and it prevented price from more losses.
  • While the RSI resistance #2 at 60 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 0.7710 on 05/30/2018, so more losses to support(s) 0.7570, 0.7485, 0.7425 and 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 46.

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.