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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 1872 pip
Closed trade(s): 1872 pip Profit
Open trade(s): 0 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.
TP6 @ 0.7365 touched at 2018.09.05 with 378 pip Profit.
38 + 123 + 173 + 258 + 318 + 378 = 1288 pip

Closed Profit:
Profit for one trade is 0.7743(open price) - 0.7597(current price) = 146 pip
4 trade(s) closed at market price as the major resistance is broken, therefore total profit will increase by 146 x 4 = 584 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateSeptember 30, 2018 - 22:14
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.75300 would begin in Midterm.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 66.

Supports and Resistances:

  1. 0.7960
  2. 0.7820
  3. 0.7705
  4. 0.7620
  5. 0.7570
  6. 0.7485
  7. 0.7425
  8. 0.7365
  9. 0.7225
  10. 0.7125
  11. 0.6805
Click on the level to view price action history.