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

#NZDCHF
Total Profit: 1286 pip
Closed trade(s): 590 pip Profit
Open trade(s): 696 pip Profit

Trade Setup:
We opened 12 BUY trades @ 0.56671 based on 'Valley' entry method at 2022-10-03.

Closed Profit:
TP1 @ 0.57178 touched at 2022-10-20 with 51 pip Profit.
TP2 @ 0.57907 touched at 2022-10-27 with 124 pip Profit.
TP3 @ 0.58487 touched at 2022-11-01 with 182 pip Profit.
TP4 @ 0.59000 touched at 2022-11-04 with 233 pip Profit.
51 + 124 + 182 + 233 = 590 pip

Open Profit:
Profit for one BUY trade is 0.57536(current price) - 0.56671(open price) = 87 pip
8 trade(s) still open, therefore total profit for open trade(s) is 87 x 8 = 696 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.

DateNovember 13, 2022 - 10:07
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.55000, beginning of uptrend is expected.
  • We make sure when the resistance at 0.59000 breaks.
  • If the support at 0.55000 is broken, the short-term forecast -beginning of uptrend- 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 0.59013 on 11/08/2022, so more losses to support(s) 0.57178, 0.55957, 0.55321 and minimum to Major Support (0.55000) 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 49.

Take Profits:

  1. 0.57178
  2. 0.57900
  3. 0.58487
  4. 0.59000
  5. 0.60187
  6. 0.60867
  7. 0.61793
  8. 0.62597
  9. 0.63792
  10. 0.65051
  11. 0.66314
Click on the level to view price action history.