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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Symbol AUDSGD

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Trade Setup
#AUDSGD
Total Profit: 1049 pip
Closed trade(s): 269 pip Profit
Open trade(s): 780 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.

Closed Profit:
TP1 @ 0.9755 touched at 2020.09.23 with 77 pip Profit.
TP2 @ 0.9640 touched at 2020.10.15 with 192 pip Profit.
77 + 192 = 269 pip

Open Profit:
Profit for one trade is 0.9832(open price) - 0.9676(current price) = 156 pip
5 trade(s) still open, therefore total profit for open trade(s) is 156 x 5 = 780 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.
  • If the Midterm level 0.97550 is broken, we will close open trades.

DateOctober 24, 2020 - 21:21
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.97550 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 0.97550 is broken.

Technical analysis:

  • The RSI support #1 at 52 is broken, so the probability of continuation of downtrend is increased.
  • A trough is formed in daily chart at 0.9519 on 10/20/2020, so more gains maximum to Major Resistance (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 46.

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.