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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.6800 to 0.6745). 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 (0.6800)
    • Support on 01/15/2015
    • Support on 01/20/2016
    • Support on 03/11/2020
    • Support on 03/20/2020
    • Resistance on 03/30/2020
    • Support on 04/01/2020
    • Support on 04/02/2020
    • Support on 04/21/2020
    • Support on 05/01/2020
    • Support on 05/04/2020
    • Resistance on 07/31/2020
    • Support on 08/03/2020
    • Support on 08/10/2020
  • Ending of entry zone (0.6745)
    • Support on 01/15/2015
    • Support on 03/09/2020
    • Support on 03/10/2020
    • Support on 03/12/2020
    • Support on 03/16/2020
    • Support on 03/17/2020
    • Support on 03/23/2020
    • Support on 03/24/2020
    • Support on 03/30/2020
    • Support on 03/31/2020
    • Support on 07/31/2020

DateJanuary 16, 2021 - 19:13
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.67450, beginning of uptrend is expected.
  • We make sure when the resistance at 0.70500 breaks.
  • If the support at 0.67450 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.6860 on 12/22/2020, so more gains to resistance(s) 0.7005 and maximum to Major Resistance (0.7050) 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 56.

Take Profits:

  1. 0.6850
  2. 0.6900
  3. 0.6955
  4. 0.7005
  5. 0.7050
  6. 0.7200
  7. 0.7265
Click on the level to view price action history.