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

Download MT4 template file

Trade Setup

#CADCHF
Total Profit: 1870 pip
Closed trade(s): 910 pip Profit
Open trade(s): 960 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) - 0.7551(current price) = 192 pip
5 trade(s) still open, therefore total profit for open trade(s) is 192 x 5 = 960 pip

DateSat, 07/07/2018 - 19:47
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBullish

Midterm forecast:

  • 0.7620 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 0.7620 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 above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 50.

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, the description can also be found below the image.
  • If the Midterm level 0.7620 is broken, we will close these trades.
  • Price may also reach 0.7620, 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.

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 vs. Swiss Franc (CADCHF) new Sun, 15 Jul 2018
Canadian Dollar vs. Swiss Franc (CADCHF) free Sat, 7 Jul 2018
Canadian Dollar vs. Swiss Franc (CADCHF) Sat, 30 Jun 2018
Canadian Dollar vs. Swiss Franc (CADCHF) free Sat, 23 Jun 2018
Canadian Dollar vs. Swiss Franc (CADCHF) free Sat, 16 Jun 2018