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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trading suggestion:

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

DateOctober 21, 2018 - 13:40
Currentrange bound
Forecastbeginning of downtrend

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 ascending flag taking shape suggests we will soon see another leg higher.
  • The RSI downtrend #1 is broken, so the probability of beginning of downtrend is decreased.
  • While the RSI support #2 at 50 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 0.7665 on 10/16/2018, so more losses to support(s) 0.7570 and minimum to Major Support (0.7530) 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 52.

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.