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

Download MT4 template file

Trade Setup
#AUDNZD
Total Profit: 42 pip
Closed trade(s): 42 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 15 BUY trade(s) @ 1.0503 (day close price) based on 'Hammer' at 2019.02.01 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 1.0545 touched at 2019.02.12 with 42 pip Profit.

14 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

Price is below the Trend Hunter Buy Zone (1.0430 to 1.0395).

While the price is below the level 1.0435, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 1.0435 and expect to reach short-term targets.

  • Beginning of entry zone (1.0430)
    • Support on 12/31/2014
    • Resistance on 01/07/2015
    • Resistance on 01/08/2015
    • Support on 02/11/2015
    • Resistance on 02/20/2015
    • Resistance on 02/23/2015
    • Resistance on 03/12/2015
    • Resistance on 03/13/2015
    • Resistance on 03/17/2015
    • Resistance on 03/18/2015
    • Resistance on 04/29/2015
    • Resistance on 05/04/2015
    • Support on 06/09/2016
    • Support on 06/10/2016
    • Support on 06/13/2016
    • Support on 06/16/2016
    • Support on 06/17/2016
    • Support on 06/24/2016
    • Support on 06/29/2016
    • Support on 06/30/2016
    • Support on 07/01/2016
    • Resistance on 07/04/2016
    • Resistance on 07/05/2016
    • Resistance on 07/11/2016
    • Support on 07/14/2016
    • Support on 08/23/2016
    • Support on 08/29/2016
    • Resistance on 09/06/2016
    • Support on 11/07/2016
    • Support on 11/09/2016
    • Support on 12/02/2016
    • Support on 12/05/2016
    • Support on 12/06/2016
    • Support on 12/07/2016
    • Support on 12/16/2016
    • Support on 12/19/2016
    • Support on 12/22/2016
    • Resistance on 12/28/2016
    • Resistance on 01/03/2017
    • Support on 01/06/2017
    • Resistance on 02/01/2017
    • Support on 02/07/2017
    • Support on 02/08/2017
    • Support on 06/01/2017
    • Support on 06/06/2017
    • Support on 06/07/2017
    • Support on 06/09/2017
    • Support on 06/13/2017
    • Support on 06/21/2017
    • Resistance on 06/26/2017
    • Resistance on 06/27/2017
    • Support on 07/10/2017
    • Support on 12/10/2018
    • Support on 01/03/2019
    • Support on 02/06/2019
    • Resistance on 02/14/2019
  • Ending of entry zone (1.0395)
    • Support on 11/09/2016
    • Support on 12/08/2016
    • Support on 12/09/2016
    • Support on 12/12/2016
    • Support on 12/13/2016
    • Support on 12/14/2016
    • Support on 12/15/2016
    • Support on 12/26/2016
    • Support on 12/27/2016
    • Resistance on 12/30/2016
    • Resistance on 01/02/2017
    • Support on 02/07/2017
    • Support on 06/02/2017
    • Support on 06/05/2017
    • Support on 06/27/2017
    • Support on 07/07/2017
    • Support on 01/03/2019
    • Support on 02/06/2019
    • Support on 02/13/2019
DateFebruary 16, 2019 - 21:23
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.03600 would begin in Midterm.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • While the RSI support #1 at 33 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.0545 on 02/12/2019, so more losses minimum to Major Support (1.0360) 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 36.

Take Profits:

  1. 1.0545
  2. 1.0585
  3. 1.0660
  4. 1.0760
  5. 1.0850
  6. 1.0905
  7. 1.0990
  8. 1.1050
  9. 1.1140
  10. 1.1280
  11. 1.1375
  12. 1.1645
  13. 1.1920
  14. 1.2340
Click on the level to view price action history.
Symbol Released Current Forecast
Australian Dollar / New Zealand Dollar (AUDNZD) Sun, 14 Apr 2024
Australian Dollar / New Zealand Dollar (AUDNZD) Sun, 7 Apr 2024
Australian Dollar / New Zealand Dollar (AUDNZD) Sat, 30 Mar 2024
Australian Dollar / New Zealand Dollar (AUDNZD) Sun, 24 Mar 2024
Australian Dollar / New Zealand Dollar (AUDNZD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on AUDNZD.