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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Symbol AUDSGD

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Trade Setup
#AUDSGD
Total Profit: 84 pip
Closed trade(s): 0 pip Profit
Open trade(s): 84 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 0.9832 based on 'Sell on Uptrend Break Down' entry method at 2020.09.21.

Open Profit:
Profit for one trade is 0.9832(open price) - 0.9820(current price) = 12 pip
7 trade(s) still open, therefore total profit for open trade(s) is 12 x 7 = 84 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.

DateSeptember 21, 2020 - 21:52
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 1.0050, beginning of downtrend is expected.
  • We make sure when the support at 0.9755 breaks.
  • If the resistance at 1.0050 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.9756 on 2020-06-09 and the peak at 1.00525 on 2020-08-31, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI support #1 at 52 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.0050 on 08/31/2020, so more losses minimum to Major Support (0.9755) 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 40.

Take Profits:

  1. 0.9755
  2. 0.9640
  3. 0.9495
  4. 0.9400
  5. 0.9250
  6. 0.9100
Click on the level to view price action history.