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Weekly forecast Euro / Swiss Franc technical chart
Symbol EURCHF
Trade Setup

#EURCHF
Total Profit: 4656 pip
Closed trade(s): 1360 pip Profit
Open trade(s): 3296 pip Profit

Trade Setup:
We opened 13 BUY trades @ 0.96039 based on 'Hammer' entry method at 2022-09-15.

Closed Profit:
TP1 @ 0.96972 touched at 2022-09-22 with 93 pip Profit.
TP2 @ 0.97617 touched at 2022-10-03 with 158 pip Profit.
TP3 @ 0.98644 touched at 2022-10-21 with 260 pip Profit.
TP4 @ 0.99688 touched at 2023-01-11 with 365 pip Profit.
TP5 @ 1.00882 touched at 2023-01-13 with 484 pip Profit.
93 + 158 + 260 + 365 + 484 = 1360 pip

Open Profit:
Profit for one BUY trade is 1.00163(current price) - 0.96039(open price) = 412 pip
8 trade(s) still open, therefore total profit for open trade(s) is 412 x 8 = 3296 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 0.96972 is broken, we will close open trades.

DateJanuary 29, 2023 - 21:29
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.96972, resumption of uptrend is expected.
  • We make sure when the resistance at 1.00882 breaks.
  • If the support at 0.96972 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.96972 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.98740 on 01/18/2023, so more gains maximum to Major Resistance (1.00882) 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 59.

Take Profits:

  1. 0.96972
  2. 0.97618
  3. 0.98674
  4. 0.99688
  5. 1.00882
  6. 1.02188
  7. 1.03738
  8. 1.05105
  9. 1.06098
  10. 1.07029
  11. 1.09330
  12. 1.11449
Click on the level to view price action history.

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