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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY

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Trade Setup
#AUDJPY
Total Profit: 781 pip
Closed trade(s): 413 pip Profit
Open trade(s): 368 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 75.91 (day close price) based on 'Shooting star Two-day reversal candle' at 2020.10.12 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 75.50 touched at 2020.10.13 with 41 pip Profit.
TP2 @ 74.70 touched at 2020.10.15 with 121 pip Profit.
TP3 @ 73.40 touched at 2020.10.28 with 251 pip Profit.
41 + 121 + 251 = 413 pip

Open Profit:
Profit for one trade is 75.91(open price) - 74.99(current price) = 92 pip
4 trade(s) still open, therefore total profit for open trade(s) is 92 x 4 = 368 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 75.500 is broken, we will close open trades.

DateNovember 7, 2020 - 16:42
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 75.500 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 75.500 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of downtrend is decreased.
  • A trough is formed in daily chart at 73.15 on 10/29/2020, so more gains maximum to Major Resistance (75.50) 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 52.

Take Profits:

  1. 75.50
  2. 74.70
  3. 73.40
  4. 72.40
  5. 71.10
  6. 69.95
Click on the level to view price action history.