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Weekly forecast Australian Dollar vs. New Zealand Dollar technical chart
Symbol AUDNZD

Download MT4 template file

Trade Setup

#AUDNZD
Total Profit: 779 pip
Closed trade(s): 51 pip Profit
Open trade(s): 728 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 1.0956 based on 'Shooting Star' at 2018.08.27 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 1.0905 touched at 2018.08.29 with 51 pip Profit.

Open Profit:
Profit for one trade is 1.0956(open price) - 1.0865(current price) = 91 pip
8 trade(s) still open, therefore total profit for open trade(s) is 91 x 8 = 728 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateSat, 09/08/2018 - 19:20
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.1140 would begin in Midterm.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.1020 on 09/05/2018, so more losses to support(s) 1.0850, 1.0760, 1.0660 and more depths is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 43.

Take Profits:

  1. 1.0905
  2. 1.0850
  3. 1.0760
  4. 1.0660
  5. 1.0500
  6. 1.0360
  7. 1.0255
  8. 1.0010
Click on the level to view price action history.