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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Symbol AUDSGD

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Trade Setup

#AUDSGD
Total Profit: -258 pip
Closed trade(s): 0 pip Profit
Open trade(s): -258 pip Profit

Trade Setup:
We opened 6 SELL trade(s) @ 1.0292 based on 'Peak' entry method at 2021.05.12.

Open Profit:
Profit for one trade is 1.0292(open price) - 1.0335(current price) = -43 pip
6 trade(s) still open, therefore total profit for open trade(s) is -43 x 6 = -258 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.

DateMay 15, 2021 - 20:55
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.05350, beginning of downtrend is expected.
  • We make sure when the support at 1.00800 breaks.
  • If the resistance at 1.05350 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 62 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.0435 on 05/10/2021, so more losses to support(s) 1.0320, 1.0225 and minimum to Major Support (1.0080) 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 53.

Take Profits:

  1. 1.0225
  2. 1.0080
  3. 0.9875
  4. 0.9755
  5. 0.9525
Click on the level to view price action history.