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

Download MT4 template file

Trade Setup
#AUDNZD
Total Profit: 1358 pip
Closed trade(s): 278 pip Profit
Open trade(s): 1080 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.0571 based on 'Hammer' at 2020.11.12 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 1.0660 touched at 2020.12.15 with 89 pip Profit.
TP2 @ 1.0760 touched at 2021.01.12 with 189 pip Profit.
89 + 189 = 278 pip

Open Profit:
Profit for one trade is 1.0787(current price) - 1.0571(open price) = 216 pip
5 trade(s) still open, therefore total profit for open trade(s) is 216 x 5 = 1080 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 1.0625 is broken, we will close open trades.

DateJanuary 16, 2021 - 19:12
Currentuptrend
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 1.0625 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 1.0625 is broken.

Technical analysis:

  • While the RSI support #1 at 44 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.0415 on 12/01/2020, so more gains to resistance(s) 1.0815, 1.0890, 1.1045 and more heights 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 67.

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.