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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup
#CHFJPY
Total Profit: -680 pip
Closed trade(s): 0 pip Profit
Open trade(s): -680 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 113.19 (day close price) based on 'Peak' at 2018.11.23 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Open Profit:
Profit for one trade is 113.19(open price) - 113.86(current price) = -68 pip
10 trade(s) still open, therefore total profit for open trade(s) is -68 x 10 = -680 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.

DateDecember 10, 2018 - 07:53
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 a downtrend wave below 114.750 would begin in Midterm.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend 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 56.

Take Profits:

  1. 112.50
  2. 111.85
  3. 111.05
  4. 110.10
  5. 108.60
  6. 107.65
  7. 104.15
  8. 101.80
  9. 100.00
Click on the level to view price action history.