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

#NZDCHF
Total Profit: 2937 pip
Closed trade(s): 942 pip Profit
Open trade(s): 1995 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.
TP5 @ 0.60187 touched at 2022-12-13 with 352 pip Profit.
51 + 124 + 182 + 233 + 352 = 942 pip

Open Profit:
Profit for one BUY trade is 0.59519(current price) - 0.56671(open price) = 285 pip
7 trade(s) still open, therefore total profit for open trade(s) is 285 x 7 = 1995 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 0.59000 is broken, we will close open trades.

DateDecember 18, 2022 - 22:03
Currentuptrend
Forecastresumption of uptrend

Midterm forecast:

  • 0.59000 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 0.59000 is broken.

Technical analysis:

  • While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 0.60300 on 12/13/2022, so more losses to support(s) 0.59500 and minimum to Major Support (0.59000) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 55.

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.