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Weekly forecast US Dollar / Swiss Franc technical chart
Symbol USDCHF
Trade Setup

#USDCHF
Total Profit: -1104 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1104 pip Profit

Trade Setup:
We opened 12 BUY trades @ 0.93573 based on 'Valley' entry method at 2023-01-03, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Open Profit:
Profit for one BUY trade is 0.92651(current price) - 0.93573(open price) = -92 pip
12 trade(s) still open, therefore total profit for open trade(s) is -92 x 12 = -1104 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.

DateJanuary 14, 2023 - 23:33
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.90850, beginning of uptrend is expected.
  • We make sure when the resistance at 0.93700 breaks.
  • If the support at 0.90850 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.93553 on 2022-11-15 and the trough at 0.91658 on 2023-01-09, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.91670 on 01/09/2023, so more gains to resistance(s) 0.93132 and maximum to Major Resistance (0.93700) 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 45.

Take Profits:

  1. 0.94400
  2. 0.94920
  3. 0.95800
  4. 0.96650
  5. 0.97340
  6. 0.97920
  7. 0.98700
  8. 0.99200
  9. 1.00600
  10. 1.01453
  11. 1.02388
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Swiss Franc (USDCHF) free Sat, 23 Mar 2024
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