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Trend Hunter performance since 2015 for this symbol

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Weekly forecast Australian Dollar vs. New Zealand Dollar technical chart
Symbol AUDNZD

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Trade Setup
#AUDNZD
Total Profit: 1354 pip
Closed trade(s): 346 pip Profit
Open trade(s): 1008 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.0486 (day close price) based on 'Two-day reversal candle(Hammer)' at 2019.07.12 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 1.0500 touched at 2019.08.08 with 14 pip Profit.
TP2 @ 1.0545 touched at 2019.08.16 with 59 pip Profit.
TP3 @ 1.0585 touched at 2019.08.21 with 99 pip Profit.
TP4 @ 1.0660 touched at 2019.08.29 with 174 pip Profit.
14 + 59 + 99 + 174 = 346 pip

Open Profit:
Profit for one trade is 1.0654(current price) - 1.0486(open price) = 168 pip
6 trade(s) still open, therefore total profit for open trade(s) is 168 x 6 = 1008 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 1.0530 is broken, we will close open trades.

DateSat, 09/07/2019 - 19:50
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1.0530, resumption of uptrend is expected.
  • We make sure when the resistance at 1.0730 breaks.
  • If the support at 1.0530 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.0530 is broken.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • While the RSI support #1 at 53 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.0705 on 09/03/2019, so more losses to support(s) 1.0630, 1.0585, 1.0545 and minimum to Major Support (1.0530) 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 61.

Take Profits:

  1. 1.0500
  2. 1.0545
  3. 1.0585
  4. 1.0660
  5. 1.0760
  6. 1.0850
  7. 1.0990
  8. 1.1140
  9. 1.1335
Click on the level to view price action history.