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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF
Trade Setup

#CADCHF
Total Profit: 1088 pip
Closed trade(s): 746 pip Profit
Open trade(s): 342 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 0.7407 (day close price) based on 'Peak' at 2021.07.06 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 0.7380 touched at 2021.07.08 with 27 pip Profit.
TP2 @ 0.7313 touched at 2021.07.08 with 94 pip Profit.
TP3 @ 0.7255 touched at 2021.07.19 with 152 pip Profit.
TP4 @ 0.7200 touched at 2021.07.19 with 207 pip Profit.
TP5 @ 0.7141 touched at 2021.08.20 with 266 pip Profit.
27 + 94 + 152 + 207 + 266 = 746 pip

Open Profit:
Profit for one trade is 0.7407(open price) - 0.7293(current price) = 114 pip
3 trade(s) still open, therefore total profit for open trade(s) is 114 x 3 = 342 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.
  • If the Midterm level 0.73800 is broken, we will close open trades.

DateSeptember 17, 2021 - 21:30
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.73800 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 0.73800 is broken.

Technical analysis:

  • While the RSI resistance #1 at 59 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 0.7209 on 09/13/2021, so more gains to resistance(s) 0.7313 and maximum to Major Resistance (0.7380) 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 54.

Take Profits:

  1. 0.7380
  2. 0.7313
  3. 0.7255
  4. 0.7200
  5. 0.7141
  6. 0.7060
  7. 0.6897
Click on the level to view price action history.