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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

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Trade Setup
#AUDUSD
Total Profit: 1152 pip
Closed trade(s): 280 pip Profit
Open trade(s): 872 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.6705 based on 'Hammer' at 2019.10.02 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.6825 touched at 2019.10.17 with 120 pip Profit.
TP2 @ 0.6865 touched at 2019.10.21 with 160 pip Profit.
120 + 160 = 280 pip

Open Profit:
Profit for one trade is 0.6814(current price) - 0.6705(open price) = 109 pip
8 trade(s) still open, therefore total profit for open trade(s) is 109 x 8 = 872 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.

DateNovember 16, 2019 - 17:04
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 0.6670, beginning of uptrend is expected.
  • We make sure when the resistance at 0.7080 breaks.
  • If the support at 0.6670 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • A peak is formed in daily chart at 0.6930 on 10/31/2019, so more losses to support(s) 0.6730, 0.6675 and minimum to Major Support (0.6670) 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 46.

Take Profits:

  1. 0.6825
  2. 0.6865
  3. 0.6940
  4. 0.7080
  5. 0.7200
  6. 0.7395
  7. 0.7675
  8. 0.7805
  9. 0.8135
Click on the level to view price action history.