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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup

#CHFJPY
Total Profit: 4604 pip
Closed trade(s): 3612 pip Profit
Open trade(s): 992 pip Profit
_______________________________________________
Trade Setup:
We opened 8 BUY trade(s) @ 112.79 (day close price) based on 'Hammer' at 2014.10.16 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/CHFJPY...

Closed Profit:
TP1 @ 113.40 touched at 2014.10.20 with 61 pip Profit.
TP2 @ 114.40 touched at 2014.10.29 with 161 pip Profit.
TP3 @ 116.20 touched at 2014.10.31 with 341 pip Profit.
TP4 @ 117.70 touched at 2014.11.03 with 491 pip Profit.
TP5 @ 119.15 touched at 2014.11.05 with 636 pip Profit.
TP6 @ 120.65 touched at 2014.11.14 with 786 pip Profit.
TP7 @ 124.15 touched at 2014.11.20 with 1136 pip Profit.
61 + 161 + 341 + 491 + 636 + 786 + 1136 = 3612 pip

Open Profit:
Profit for one trade is 122.71(current price) - 112.79(open price) = 992 pip
1 trade(s) still open, therefore total profit for open trade(s) is 992 x 1 = 992 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (120.65 to 119.15). 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 (120.65)
    • Support on 03/13/2015
    • Support on 12/31/2014
    • Support on 12/30/2014
    • Support on 12/18/2014
    • Support on 12/16/2014
    • Support on 11/17/2014
  • Ending of entry zone (119.15)
    • Support on 11/12/2014
    • Resistance on 11/06/2014
    • Resistance on 11/05/2014
    • Peak on 01/07/2014
    • Peak on 01/02/2014
    • Peak on 12/31/2013
    • Peak on 12/30/2013
    • Peak on 12/27/2013
    • Resistance on 12/27/2013

DateApril 12, 2015 - 11:15
Currentdowntrend
Forecastresumption of uptrend

Midterm forecast:

  • The current trend is downtrend but the forecast is resumption of uptrend.

Technical analysis:

  • A peak is formed in daily chart at 125.30 on 04/09/2015, so more losses minimum to Trend Hunter Buy Zone (120.65 to 119.15) 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 43.

Take Profits:

  1. 123.00
  2. 125.00
  3. 127.00
  4. 130.00
  5. 138.00
Click on the level to view price action history.