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Weekly forecast US Dollar / Swiss Franc technical chart
Symbol USDCHF

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Trade Setup

#USDCHF
Total Profit: 760 pip
Closed trade(s): 0 pip Profit
Open trade(s): 760 pip Profit
_______________________________________________
Trade Setup:
We opened 8 BUY trade(s) @ 0.9551 (day close price) based on 'Hammer' at 2017.08.29 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/USDCHF...

Open Profit:
Profit for one trade is 0.9646(current price) - 0.9551(open price) = 95 pip
8 trade(s) still open, therefore total profit for open trade(s) is 95 x 8 = 760 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.9615 to 0.9440). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (0.9615)
    • Support on 08/24/2017
    • Support on 08/22/2017
    • Support on 08/21/2017
    • Support on 08/18/2017
    • Support on 08/17/2017
    • Support on 08/14/2017
    • Support on 08/11/2017
    • Support on 08/10/2017
    • Support on 08/09/2017
    • Resistance on 07/20/2017
    • Support on 07/17/2017
    • Support on 06/07/2017
    • Support on 06/06/2017
    • Peak on 08/30/2012
  • Ending of entry zone (0.9440)
    • Support on 08/29/2017
    • Support on 07/24/2017
    • Trough on 07/21/2017
    • Support on 07/21/2017
    • Trough on 05/04/2016
    • Trough on 05/03/2016
    • Support on 05/03/2016
    • Support on 10/29/2014
    • Support on 10/28/2014
    • Resistance on 10/16/2014
    • Resistance on 09/18/2014
    • Support on 07/15/2013
    • Support on 07/12/2013
    • Support on 07/11/2013
    • Support on 07/03/2013
    • Support on 07/02/2013
    • Resistance on 06/26/2013
    • Peak on 06/06/2013
    • Resistance on 06/06/2013
    • Support on 06/04/2013
    • Support on 06/03/2013
    • Resistance on 05/07/2013
    • Peak on 05/07/2013
    • Peak on 10/05/2012
    • Peak on 10/04/2012
    • Peak on 10/03/2012
    • Peak on 10/02/2012
    • Peak on 10/01/2012
    • Peak on 06/06/2011

DateSeptember 2, 2017 - 21:43
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 0.9430 on 08/29/2017, so more gains to resistance(s) 0.9695, 0.9770, 0.9860 and more heights 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 51.

Take Profits:

  1. 0.9695
  2. 0.9770
  3. 0.9860
  4. 0.9960
  5. 1.0100
  6. 1.0210
  7. 1.0325
Click on the level to view price action history.

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