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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup
#CHFJPY
Total Profit: 3035 pip
Closed trade(s): 1739 pip Profit
Open trade(s): 1296 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...

Closed Profit:
TP1 @ 112.50 touched at 2018.12.20 with 69 pip Profit.
TP2 @ 111.85 touched at 2018.12.21 with 134 pip Profit.
TP3 @ 111.05 touched at 2019.01.02 with 214 pip Profit.
TP4 @ 110.10 touched at 2019.01.02 with 309 pip Profit.
TP5 @ 108.60 touched at 2019.01.03 with 459 pip Profit.
TP6 @ 107.65 touched at 2019.01.03 with 554 pip Profit.
69 + 134 + 214 + 309 + 459 + 554 = 1739 pip

Open Profit:
Profit for one trade is 113.19(open price) - 109.95(current price) = 324 pip
4 trade(s) still open, therefore total profit for open trade(s) is 324 x 4 = 1296 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.
  • If the Midterm level 111.850 is broken, we will close open trades.

DateFebruary 2, 2019 - 16:49
Currentrange bound
Forecastcontinuation 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 111.850 would begin in Midterm.
  • We will close our open trades, if the Midterm level 111.850 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 109.10 on 01/31/2019, so more gains to resistance(s) 110.10, 111.05 and maximum to Major Resistance (111.85) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 43.

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.