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

#NZDCHF
Total Profit: 99 pip
Closed trade(s): 0 pip Profit
Open trade(s): 99 pip Profit

Trade Setup:
We opened 9 BUY trades @ 0.54923 based on 'Valley' entry method at 2023-06-01, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Open Profit:
Profit for one BUY trade is 0.5503(current price) - 0.54923(open price) = 11 pip
9 trade(s) still open, therefore total profit for open trade(s) is 11 x 9 = 99 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.

DateJune 4, 2023 - 17:03
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.54322, beginning of uptrend is expected.
  • We make sure when the resistance at 0.56728 breaks.
  • If the support at 0.54322 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The double bottoms taking shape.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.54420 on 05/31/2023, so more gains to resistance(s) 0.55440, 0.56195 and maximum to Major Resistance (0.56728) 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 42.

Take Profits:

  1. 0.55440
  2. 0.56195
  3. 0.56728
  4. 0.57898
  5. 0.59000
  6. 0.60187
  7. 0.60986
  8. 0.61793
Click on the level to view price action history.