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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Trade Setup

Total Profit: -5047 pip
Closed trade(s): 0 pip Profit
Open trade(s): -5047 pip Profit

Trade Setup:
We opened 7 BUY trades @ 0.95608 based on 'Valley' entry method at 2022-09-09.

Open Profit:
Profit for one BUY trade is 0.88397(current price) - 0.95608(open price) = -721 pip
7 trade(s) still open, therefore total profit for open trade(s) is -721 x 7 = -5047 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.

DateMarch 25, 2023 - 14:38
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.88165, beginning of uptrend is expected.
  • We make sure when the resistance at 0.97552 breaks.
  • If the support at 0.88165 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.90060 on 03/17/2023, so more losses minimum to Major Support (0.88165) 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 33.

Take Profits:

  1. 0.96543
  2. 0.97552
  3. 0.99724
  4. 1.01573
  5. 1.03135
  6. 1.05212
Click on the level to view price action history.