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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Symbol AUDSGD

Trading suggestion:

Price is in the Trend Hunter Buy Zone (0.9925 to 0.9835).

While the price is below the level 9298.215, 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 9298.215 and expect to reach short-term targets.

  • Beginning of entry zone (0.9925)
  • Ending of entry zone (0.9835)

DateSeptember 12, 2021 - 16:24
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.96650, beginning of uptrend is expected.
  • We make sure when the resistance at 1.05350 breaks.
  • If the support at 0.96650 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 48200.99 on 2021-02-21 and the peak at 50986 on 2021-03-13, and the probability of beginning of uptrend is decreased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.0007 on 09/03/2021, so more losses to support(s) 0.9835, 0.9755 and minimum to Major Support (0.9665) 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 44.

Take Profits:

  1. 1.0005
  2. 1.0115
  3. 1.0200
  4. 1.0265
  5. 1.0415
  6. 1.0535
Click on the level to view price action history.