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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Symbol AUDSGD

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Trade Setup

#AUDSGD
Total Profit: 1727 pip
Closed trade(s): 279 pip Profit
Open trade(s): 1448 pip Profit

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

Closed Profit:
TP1 @ 1.0225 touched at 2021.05.27 with 67 pip Profit.
TP2 @ 1.0080 touched at 2021.06.18 with 212 pip Profit.
67 + 212 = 279 pip

Open Profit:
Profit for one trade is 1.0292(open price) - 0.9930(current price) = 362 pip
4 trade(s) still open, therefore total profit for open trade(s) is 362 x 4 = 1448 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 1.0290 is broken, we will close open trades.

DateJuly 31, 2021 - 11:03
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBearish

Midterm forecast:

  • 1.0290 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 1.0290 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.0190 on 07/06/2021, so more losses to support(s) 0.9875, 0.9755, 0.9525 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 30.

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.