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Weekly forecast Euro / Swiss Franc technical chart
Symbol EURCHF
Trade Setup

#EURCHF
Total Profit: 702 pip
Closed trade(s): 0 pip Profit
Open trade(s): 702 pip Profit

Trade Setup:
We opened 13 BUY trades @ 0.96039 based on 'Hammer' entry method at 2022-09-15.

Open Profit:
Profit for one BUY trade is 0.96576(current price) - 0.96039(open price) = 54 pip
13 trade(s) still open, therefore total profit for open trade(s) is 54 x 13 = 702 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateSeptember 18, 2022 - 14:37
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.95310, beginning of uptrend is expected.
  • We make sure when the resistance at 0.99688 breaks.
  • If the support at 0.95310 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.95516 on 2022-08-23 and the trough at 0.95305 on 2022-09-15, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.95305 on 09/15/2022, so more gains to resistance(s) 0.96972, 0.97617, 0.98644 and maximum to Major Resistance (0.99688) 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 46.

Take Profits:

  1. 0.96972
  2. 0.97617
  3. 0.98644
  4. 0.99688
  5. 1.00882
  6. 1.02188
  7. 1.03738
  8. 1.05105
  9. 1.06098
  10. 1.07029
  11. 1.09330
  12. 1.11449
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Swiss Franc (EURCHF) free Sun, 24 Mar 2024
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