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Weekly forecast Australian Dollar vs. Japanese Yen technical chart

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Trade Setup

Total Profit: 3772 pip
Closed trade(s): 1820 pip Profit
Open trade(s): 1952 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 88.11 (day close price) based on 'Peak' at 2018.01.09 signaled by DTO:

Closed Profit:
TP1 @ 87.00 touched at 2018.02.05 with 111 pip Profit.
TP2 @ 85.85 touched at 2018.02.06 with 226 pip Profit.
TP3 @ 84.70 touched at 2018.02.08 with 341 pip Profit.
TP4 @ 83.05 touched at 2018.02.28 with 506 pip Profit.
TP5 @ 81.75 touched at 2018.03.02 with 636 pip Profit.
111 + 226 + 341 + 506 + 636 = 1820 pip

Open Profit:
Profit for one trade is 88.11(open price) - 83.23(current price) = 488 pip
4 trade(s) still open, therefore total profit for open trade(s) is 488 x 4 = 1952 pip

DateSat, 06/09/2018 - 12:04
Currentrange bound
Forecastresumption of downtrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 84.50 would begin in Midterm.
  • We will close our open trades, if the Midterm level 84.50 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 84.5 on 2018-05-22 and the peak at 84.55 on 2018-06-07, the probability of uptrend continuation is decreased and the probability of resumption of downtrend is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 84.55 on 06/07/2018, so more losses to support(s) 83.05, 81.75, 79.60 and more depths 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.
  • The descending flag taking shape suggests we will soon see another leg lower.

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, the description can also be found below the image.
  • If the Midterm level 84.50 is broken, we will close these trades.
  • Price may also reach 84.50, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

Take Profits:

  1. 87.00
  2. 85.85
  3. 84.70
  4. 83.05
  5. 81.75
  6. 79.60
  7. 76.80
  8. 72.50
Click on the level to view price action history.