website utilities


Follow us:
+1 (646) 48 000 22 (New York, USA)
You are not logged in, you need subscription to view up-to-date forecasts, please Login if you have already subscribed, otherwise please Subscribe
You can still continue browsing delayed forecasts on the sidebar list.
Weekly forecast Australian Dollar / New Zealand Dollar technical chart
Symbol AUDNZD

Download MT4 template file

Trade Setup
#AUDNZD
Total Profit: 660 pip
Closed trade(s): 132 pip Profit
Open trade(s): 528 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.0354 (day close price) based on 'Two-day reversal candle(Hammer)' at 2020.02.03 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 1.0395 touched at 2020.02.04 with 41 pip Profit.
TP2 @ 1.0445 touched at 2020.02.06 with 91 pip Profit.
41 + 91 = 132 pip

Open Profit:
Profit for one trade is 1.0420(current price) - 1.0354(open price) = 66 pip
8 trade(s) still open, therefore total profit for open trade(s) is 66 x 8 = 528 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.

DateFebruary 8, 2020 - 19:58
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1.0260, beginning of uptrend is expected.
  • We make sure when the resistance at 1.0445 breaks.
  • If the support at 1.0260 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.0387 on 2019-12-11 and the trough at 1.03145 on 2020-01-08, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
  • A trough is formed in daily chart at 1.0305 on 01/27/2020, so more gains maximum to Major Resistance (1.0445) 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 57.

Take Profits:

  1. 1.0395
  2. 1.0445
  3. 1.0525
  4. 1.0585
  5. 1.0660
  6. 1.0730
  7. 1.0850
  8. 1.0990
  9. 1.1140
Click on the level to view price action history.