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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup

#CADCHF
Total Profit: 5743 pip
Closed trade(s): 4822 pip Profit
Open trade(s): 921 pip Profit
_______________________________________________
Trade Setup:
We opened 13 SELL trade(s) @ 0.8546 (day close price) based on 'Peak' at 2015.01.09 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/CADCHF...

Closed Profit:
TP1 @ 0.8525 touched at 2015.01.12 with 21 pip Profit.
TP2 @ 0.8480 touched at 2015.01.12 with 66 pip Profit.
TP3 @ 0.8420 touched at 2015.01.15 with 126 pip Profit.
TP4 @ 0.8335 touched at 2015.01.15 with 211 pip Profit.
TP5 @ 0.8250 touched at 2015.01.15 with 296 pip Profit.
TP6 @ 0.8185 touched at 2015.01.15 with 361 pip Profit.
TP7 @ 0.8115 touched at 2015.01.15 with 431 pip Profit.
TP8 @ 0.8045 touched at 2015.01.15 with 501 pip Profit.
TP9 @ 0.7965 touched at 2015.01.15 with 581 pip Profit.
TP10 @ 0.7895 touched at 2015.01.15 with 651 pip Profit.
TP11 @ 0.7805 touched at 2015.01.15 with 741 pip Profit.
TP12 @ 0.7710 touched at 2015.01.15 with 836 pip Profit.
21 + 66 + 126 + 211 + 296 + 361 + 431 + 501 + 581 + 651 + 741 + 836 = 4822 pip

Open Profit:
Profit for one trade is 0.8546(open price) - 0.7625(current price) = 921 pip
1 trades are still open, therefore total profit for open trades is 921 x 1 = 921 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.8635 to 0.8685). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.8635)
    • Resistance on 01/08/2015
    • Resistance on 01/05/2015
    • Resistance on 11/24/2014
    • Resistance on 11/21/2014
    • Peak on 10/08/2014
    • Peak on 10/07/2014
    • Resistance on 10/06/2014
    • Peak on 10/06/2014
    • Support on 11/04/2011
    • Support on 10/28/2011
    • Support on 10/27/2011
    • Support on 10/17/2011
    • Support on 10/03/2011
    • Support on 09/30/2011
  • Ending of entry zone (0.8685)
    • Support on 11/21/2013
    • Support on 11/20/2013
    • Support on 11/19/2013
    • Support on 11/01/2013
    • Support on 10/22/2013
    • Trough on 10/11/2013
    • Trough on 10/08/2013
    • Trough on 10/07/2013
    • Trough on 10/04/2013
    • Support on 10/04/2013
    • Trough on 10/03/2013
    • Support on 10/03/2013

DateFebruary 28, 2015 - 16:54
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • The current trend is downtrend and the forecast is continuation of downtrend.

Technical analysis:

  • A trough is formed in daily chart at 0.7475 on 02/20/2015, so more gains to resistance(s) 0.7710, 0.7805, 0.7895 and maximum to Trend Hunter Sell Zone (0.8635 to 0.8685) 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 53.

Take Profits:

  1. 0.8525
  2. 0.8480
  3. 0.8420
  4. 0.8335
  5. 0.8250
  6. 0.8185
  7. 0.8115
  8. 0.8045
  9. 0.7965
  10. 0.7895
  11. 0.7805
  12. 0.7710
Click on the level to view price action history.