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Weekly forecast US Dollar / Swiss Franc technical chart
Symbol USDCHF

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Trade Setup

#USDCHF
Total Profit: 4445 pip
Closed trade(s): 2576 pip Profit
Open trade(s): 1869 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.9272 (day close price) based on 'Two Day Reversal Candle (Hammer)' at 2018.02.16 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 0.9355 touched at 2018.02.20 with 83 pip Profit.
TP2 @ 0.9440 touched at 2018.02.28 with 168 pip Profit.
TP3 @ 0.9520 touched at 2018.03.09 with 248 pip Profit.
TP4 @ 0.9660 touched at 2018.04.17 with 388 pip Profit.
TP5 @ 0.9735 touched at 2018.04.20 with 463 pip Profit.
TP6 @ 0.9815 touched at 2018.04.25 with 543 pip Profit.
TP7 @ 0.9955 touched at 2018.05.01 with 683 pip Profit.
83 + 168 + 248 + 388 + 463 + 543 + 683 = 2576 pip

Open Profit:
Profit for one trade is 0.9895(current price) - 0.9272(open price) = 623 pip
3 trade(s) still open, therefore total profit for open trade(s) is 623 x 3 = 1869 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 0.97350 is broken, we will close open trades.
  • Price may also reach 0.97350, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateJuly 8, 2018 - 17:57
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.97350 would begin in Midterm.
  • We will close our open trades, if the Midterm level 0.97350 is broken.

Technical analysis:

  • The RSI bounced from the support #1 at 39 and it prevented price from more losses.
  • A peak is formed in daily chart at 0.9990 on 06/28/2018, so more losses to support(s) 0.9815 and minimum to Major Support (0.9735) 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 48.

Take Profits:

  1. 0.9355
  2. 0.9440
  3. 0.9520
  4. 0.9660
  5. 0.9735
  6. 0.9815
  7. 0.9955
  8. 1.0100
  9. 1.0325
Click on the level to view price action history.

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