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Trend Hunter performance since 2015 for this symbol

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Weekly forecast Australian Dollar vs. New Zealand Dollar technical chart

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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.

DateSat, 07/07/2018 - 18:19
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.094 on 2018-05-17 and the peak at 1.099 on 2018-07-03, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.0990 on 07/03/2018, so more losses to support(s) 1.0825, 1.0760, 1.0660 and more depths 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 54.

Take Profits:

  1. 1.0825
  2. 1.0760
  3. 1.0660
  4. 1.0500
  5. 1.0360
  6. 1.0255
  7. 1.0010
Click on the level to view price action history.