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Weekly forecast Swiss Franc / Singapore Dollar technical chart

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Trade Setup
Total Profit: -2664 pip
Closed trade(s): 0 pip Profit
Open trade(s): -2664 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 1.4699 based on 'Peak' entry method at 2020.07.15.

Open Profit:
Profit for one trade is 1.4699(open price) - 1.4995(current price) = -296 pip
9 trade(s) still open, therefore total profit for open trade(s) is -296 x 9 = -2664 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.

DateJanuary 23, 2021 - 17:17
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 1.5120, beginning of downtrend is expected.
  • We make sure when the support at 1.4360 breaks.
  • If the resistance at 1.5120 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.4850 on 01/20/2021, so more gains to resistance(s) 1.5010 and maximum to Major Resistance (1.5120) 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 57.

Take Profits:

  1. 1.4640
  2. 1.4555
  3. 1.4440
  4. 1.4360
  5. 1.4165
  6. 1.3970
  7. 1.3590
  8. 1.3265
Click on the level to view price action history.