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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 1960 pip
Closed trade(s): 910 pip Profit
Open trade(s): 1050 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.
TP4 @ 0.7485 touched at 2018.06.19 with 258 pip Profit.
TP5 @ 0.7425 touched at 2018.06.22 with 318 pip Profit.
38 + 123 + 173 + 258 + 318 = 910 pip

Open Profit:
Profit for one trade is 0.7743(open price) - 0.7533(current price) = 210 pip
5 trade(s) still open, therefore total profit for open trade(s) is 210 x 5 = 1050 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.
  • If the Midterm level 0.76200 is broken, we will close open trades.
  • Price may also reach 0.76200, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.
DateJune 30, 2018 - 13:45
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.76200 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 0.76200 is broken.

Technical analysis:

  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 0.7395 on 06/22/2018, so more gains to resistance(s) 0.7570 and maximum to Major Resistance (0.7620) 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 47.

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, 21 Apr 2024
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
History
Daily-Trading-Opportunities on CADCHF.