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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.7315 to 0.7225). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.7315)
    • Trough on 09/06/2018
    • Support on 09/06/2018
    • Resistance on 12/24/2018
    • Resistance on 01/03/2019
  • Ending of entry zone (0.7225)
    • Support on 02/01/2016
    • Support on 02/02/2016
    • Support on 02/03/2016
    • Resistance on 02/05/2016
    • Resistance on 02/19/2016
    • Resistance on 02/24/2016
    • Support on 11/02/2016
    • Support on 11/09/2016
    • Support on 05/02/2017
    • Support on 05/03/2017
    • Support on 05/08/2017
    • Support on 05/30/2017
    • Resistance on 06/09/2017
    • Trough on 03/05/2018
    • Support on 03/05/2018
    • Support on 03/06/2018
    • Support on 12/27/2018
    • Support on 01/03/2019

DateJanuary 12, 2019 - 16:36
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 0.71750 would begin in Midterm.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 0.7465 on 12/14/2018, so more losses to support(s) 0.7365, 0.7315, 0.7225 and minimum to Major Support (0.7175) 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.

Take Profits:

  1. 0.7365
  2. 0.7465
  3. 0.7550
  4. 0.7705
  5. 0.7960
Click on the level to view price action history.