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

#EURCHF
Total Profit: 2160 pip
Closed trade(s): 1360 pip Profit
Open trade(s): 800 pip Profit

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

Closed Profit:
TP1 @ 0.96972 touched at 2022-09-22 with 93 pip Profit.
TP2 @ 0.97617 touched at 2022-10-03 with 158 pip Profit.
TP3 @ 0.98644 touched at 2022-10-21 with 260 pip Profit.
TP4 @ 0.99688 touched at 2023-01-11 with 365 pip Profit.
TP5 @ 1.00882 touched at 2023-01-13 with 484 pip Profit.
93 + 158 + 260 + 365 + 484 = 1360 pip

Open Profit:
Profit for one BUY trade is 0.97042(current price) - 0.96039(open price) = 100 pip
8 trade(s) still open, therefore total profit for open trade(s) is 100 x 8 = 800 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.

DateMay 28, 2023 - 20:30
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.94080, resumption of uptrend is expected.
  • We make sure when the resistance at 1.00882 breaks.
  • If the support at 0.94080 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.96760 on 05/22/2023, so more gains to resistance(s) 0.97618, 0.98674, 0.99688 and maximum to Major Resistance (1.00882) 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 36.

Take Profits:

  1. 0.96972
  2. 0.97618
  3. 0.98674
  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) Sun, 16 Jun 2024
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