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

#AUDNZD
Total Profit: 90 pip
Closed trade(s): 90 pip Profit

Trade Setup:
We opened 9 SELL trades @ 1.10857 based on 'Peak' entry method at 2022-06-09.

Closed Profit:
TP1 @ 1.09957 touched at 2022-06-17 with 90 pip Profit.
8 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 Sell Zone (1.11220 to 1.11650). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.11220)
  • Ending of entry zone (1.11650)

DateJuly 10, 2022 - 13:30
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.11650, beginning of downtrend is expected.
  • We make sure when the support at 1.07990 breaks.
  • If the resistance at 1.11650 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.09564 on 07/01/2022, so more gains to resistance(s) 1.10899, 1.11220 and maximum to Major Resistance (1.11650) 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 55.

Take Profits:

  1. 1.09957
  2. 1.09564
  3. 1.07990
  4. 1.06977
  5. 1.05978
  6. 1.05090
  7. 1.04492
  8. 1.03220
Click on the level to view price action history.