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Weekly forecast US Dollar / Swiss Franc technical chart
Symbol USDCHF

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Trade Setup
#USDCHF
Total Profit: 1488 pip
Closed trade(s): 288 pip Profit
Open trade(s): 1200 pip Profit

Trade Setup:
We opened 12 SELL trade(s) @ 1.0069 (day close price) based on 'Two-day reversal candle (Shooting Star)' at 2018.11.13 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 0.9985 touched at 2018.11.19 with 84 pip Profit.
TP2 @ 0.9865 touched at 2018.12.11 with 204 pip Profit.
84 + 204 = 288 pip

Open Profit:
Profit for one trade is 1.0069(open price) - 0.9949(current price) = 120 pip
10 trade(s) still open, therefore total profit for open trade(s) is 120 x 10 = 1200 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateDecember 22, 2018 - 15:58
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.01300 would begin in Midterm.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • While the RSI resistance #2 at 55 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 0.9990 on 12/14/2018, so more losses to support(s) 0.9865, 0.9815, 0.9755 and more depths 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 50.

Take Profits:

  1. 0.9985
  2. 0.9865
  3. 0.9815
  4. 0.9755
  5. 0.9660
  6. 0.9540
  7. 0.9440
  8. 0.9185
  9. 0.8700
  10. 0.7755
  11. 0.7065
Click on the level to view price action history.

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