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Weekly forecast New Zealand Dollar / Swiss Franc technical chart
Symbol NZDCHF

Download MT4 template file

Trade Setup
#NZDCHF
Total Profit: 1596 pip
Closed trade(s): 536 pip Profit
Open trade(s): 1060 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 0.6066 (day close price) based on 'Valley' at 2020.10.09 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Closed Profit:
TP1 @ 0.6115 touched at 2020.11.03 with 49 pip Profit.
TP2 @ 0.6170 touched at 2020.11.09 with 104 pip Profit.
TP3 @ 0.6225 touched at 2020.11.09 with 159 pip Profit.
TP4 @ 0.6290 touched at 2020.11.11 with 224 pip Profit.
49 + 104 + 159 + 224 = 536 pip

Open Profit:
Profit for one trade is 0.6278(current price) - 0.6066(open price) = 212 pip
5 trade(s) still open, therefore total profit for open trade(s) is 212 x 5 = 1060 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.
  • If the Midterm level 0.61700 is broken, we will close open trades.

DateDecember 5, 2020 - 21:23
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.61700 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 0.61700 is broken.

Technical analysis:

  • The RSI support #1 at 31 is broken, so the probability of continuation of uptrend is decreased.
  • A peak is formed in daily chart at 0.6385 on 12/01/2020, so more losses to support(s) 0.6225 and minimum to Major Support (0.6170) 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 53.

Take Profits:

  1. 0.6115
  2. 0.6170
  3. 0.6225
  4. 0.6290
  5. 0.6530
  6. 0.6670
  7. 0.6940
  8. 0.7290
Click on the level to view price action history.