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Weekly forecast Swiss Franc / Singapore Dollar technical chart

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Trade Setup
Total Profit: -531 pip
Closed trade(s): 0 pip Profit
Open trade(s): -531 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) - 1.4758(current price) = -59 pip
9 trade(s) still open, therefore total profit for open trade(s) is -59 x 9 = -531 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.

DateFebruary 20, 2021 - 19:16
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

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:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.4900 on 02/16/2021, so more losses to support(s) 1.4640, 1.4555, 1.4440 and minimum to Major Support (1.4360) 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 38.

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.