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Weekly forecast Australian Dollar / New Zealand Dollar technical chart
Symbol AUDNZD

Download MT4 template file

Trade Setup
#AUDNZD
Total Profit: 984 pip
Closed trade(s): 984 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.0486 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.
TP5 @ 1.0760 touched at 2019.09.13 with 274 pip Profit.
TP6 @ 1.0850 touched at 2019.11.07 with 364 pip Profit.
14 + 59 + 99 + 174 + 274 + 364 = 984 pip

4 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.0275 to 1.0260). 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 (1.0275)
    • Support on 01/03/2019
    • Trough on 03/25/2019
    • Support on 03/25/2019
    • Support on 08/06/2019
  • Ending of entry zone (1.0260)
    • Support on 09/07/2016
    • Support on 09/08/2016
    • Support on 09/12/2016
    • Support on 09/13/2016
    • Support on 09/16/2016
    • Support on 09/20/2016
    • Support on 01/03/2019
    • Trough on 08/06/2019
    • Support on 08/06/2019

DateDecember 7, 2019 - 17:25
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.0260 would begin in Midterm.

Technical analysis:

  • A peak is formed in daily chart at 1.0865 on 11/07/2019, so more losses to support(s) 1.0405, 1.0360, 1.0275 and minimum to Major Support (1.0260) 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 22.

Take Profits:

  1. 1.0360
  2. 1.0405
  3. 1.0445
  4. 1.0500
  5. 1.0545
  6. 1.0585
  7. 1.0660
  8. 1.0760
  9. 1.0850
  10. 1.0990
  11. 1.1140
  12. 1.1335
Click on the level to view price action history.