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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Trade Setup

Total Profit: 214 pip
Closed trade(s): 52 pip Profit
Open trade(s): 162 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 0.9855 (day close price) based on 'Valley' at 2021.10.04.

Closed Profit:
TP1 @ 0.9907 touched at 2021.10.07 with 52 pip Profit.

Open Profit:
Profit for one trade is 0.9882(current price) - 0.9855(open price) = 27 pip
6 trade(s) still open, therefore total profit for open trade(s) is 27 x 6 = 162 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateOctober 9, 2021 - 13:07
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 0.9665, beginning of uptrend is expected.
  • We make sure when the resistance at 1.0005 breaks.
  • If the support at 0.9665 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.
  • A trough is formed in daily chart at 0.9742 on 09/30/2021, so more gains to resistance(s) 0.9907 and maximum to Major Resistance (1.0005) 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 54.

Take Profits:

  1. 0.9907
  2. 1.0005
  3. 1.0115
  4. 1.0200
  5. 1.0415
  6. 1.0535
Click on the level to view price action history.