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Weekly forecast Australian Dollar / New Zealand Dollar technical chart

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Trade Setup
Total Profit: 803 pip
Closed trade(s): 89 pip Profit
Open trade(s): 714 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.0571 based on 'Hammer' at 2020.11.12 signaled by DTO:

Closed Profit:
TP1 @ 1.0660 touched at 2020.12.15 with 89 pip Profit.

Open Profit:
Profit for one trade is 1.0690(current price) - 1.0571(open price) = 119 pip
6 trade(s) still open, therefore total profit for open trade(s) is 119 x 6 = 714 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.

DateJanuary 9, 2021 - 21:06
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1.0415, beginning of uptrend is expected.
  • We make sure when the resistance at 1.0760 breaks.
  • If the support at 1.0415 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.0415 on 12/01/2020, so more gains maximum to Major Resistance (1.0760) 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. 1.0660
  2. 1.0760
  3. 1.0815
  4. 1.0890
  5. 1.1045
  6. 1.1455
Click on the level to view price action history.