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

#CADCHF
Total Profit: 1651 pip
Closed trade(s): 1351 pip Profit
Open trade(s): 300 pip Profit

Trade Setup:
We opened 8 BUY trades @ 0.72813 based on 'Valley' entry method at 2022-03-02, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 0.7318 touched at 2022-03-11 with 37 pip Profit.
TP2 @ 0.7371 touched at 2022-03-15 with 90 pip Profit.
TP3 @ 0.7469 touched at 2022-03-28 with 188 pip Profit.
TP4 @ 0.7530 touched at 2022-04-19 with 249 pip Profit.
TP5 @ 0.7635 touched at 2022-04-29 with 354 pip Profit.
TP6 @ 0.7714 touched at 2022-05-13 with 433 pip Profit.
37 + 90 + 188 + 249 + 354 + 433 = 1351 pip

Open Profit:
Profit for one BUY trade is 0.74312(current price) - 0.72813(open price) = 150 pip
2 trade(s) still open, therefore total profit for open trade(s) is 150 x 2 = 300 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 0.73710 is broken, we will close open trades.

DateAugust 6, 2022 - 19:24
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.73710, resumption of uptrend is expected.
  • We make sure when the resistance at 0.78105 breaks.
  • If the support at 0.73710 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.73710 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.73740 on 08/02/2022, so more gains to resistance(s) 0.74685, 0.75439, 0.76175 and maximum to Major Resistance (0.78105) 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 45.

Take Profits:

  1. 0.73214
  2. 0.73710
  3. 0.74685
  4. 0.75439
  5. 0.76175
  6. 0.78650
Click on the level to view price action history.