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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Symbol AUDSGD
Trade Setup

#AUDSGD
Total Profit: -558 pip
Closed trade(s): 0 pip Profit
Open trade(s): -558 pip Profit

Trade Setup:
We opened 6 BUY trades @ 0.9627 based on 'Valley' entry method at 2022-06-24.

Open Profit:
Profit for one BUY trade is 0.95338(current price) - 0.9627(open price) = -93 pip
6 trade(s) still open, therefore total profit for open trade(s) is -93 x 6 = -558 pip

#AUDSGD
Total Profit: -366 pip
Closed trade(s): 99 pip Profit
Open trade(s): -465 pip Profit

Trade Setup:
We opened 6 BUY trades @ 0.9627 based on 'Valley' entry method at 2022-06-24.

Closed Profit:
TP1 @ 0.97255 touched at 2022-08-11 with 99 pip Profit.

Open Profit:
Profit for one BUY trade is 0.95338(current price) - 0.9627(open price) = -93 pip
5 trade(s) still open, therefore total profit for open trade(s) is -93 x 5 = -465 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.

DateAugust 7, 2022 - 08:06
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.93302, beginning of uptrend is expected.
  • We make sure when the resistance at 1.01573 breaks.
  • If the support at 0.93302 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 0.96902 on 08/01/2022, so more losses to support(s) 0.94830 and minimum to Major Support (0.93302) 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 45.

Take Profits:

  1. 0.97255
  2. 0.99724
  3. 1.01573
  4. 1.03135
  5. 1.05212
Click on the level to view price action history.