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

#NZDCHF
Total Profit: 2384 pip
Closed trade(s): 2384 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.
7 trade(s) closed at market price as the major support is broken, therefore total profit will increase by 206 x 7 = 1442 pip
51 + 124 + 182 + 233 + 352 = 2384 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.59625 to 0.60187). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.59625)
  • Ending of entry zone (0.60187)
DateJanuary 15, 2023 - 18:22
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.60187, beginning of downtrend is expected.
  • We make sure when the support at 0.55000 breaks.
  • If the resistance at 0.60187 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 48 is broken, so the probability of beginning of downtrend is increased.
  • A trough is formed in daily chart at 0.57960 on 12/22/2022, so more gains to resistance(s) 0.59625 and maximum to Major Resistance (0.60187) 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. 0.59000
  2. 0.58493
  3. 0.57900
  4. 0.57178
  5. 0.56096
  6. 0.55000
  7. 0.53753
  8. 0.52260
Click on the level to view price action history.
Symbol Released Current Forecast
New Zealand Dollar / Swiss Franc (NZDCHF) Sun, 14 Apr 2024
New Zealand Dollar / Swiss Franc (NZDCHF) Sun, 7 Apr 2024
New Zealand Dollar / Swiss Franc (NZDCHF) Sun, 31 Mar 2024
New Zealand Dollar / Swiss Franc (NZDCHF) Sun, 24 Mar 2024
New Zealand Dollar / Swiss Franc (NZDCHF) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on NZDCHF.