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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

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Trade Setup
#AUDUSD
Total Profit: 193 pip
Closed trade(s): 101 pip Profit
Open trade(s): 92 pip Profit

Trade Setup:
We opened 6 SELL trade(s) @ 0.7158 (day close price) based on 'Peak' at 2020.10.13 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.7150 touched at 2020.10.15 with 8 pip Profit.
TP2 @ 0.7065 touched at 2020.10.15 with 93 pip Profit.
8 + 93 = 101 pip

Open Profit:
Profit for one trade is 0.7158(open price) - 0.7135(current price) = 23 pip
4 trade(s) still open, therefore total profit for open trade(s) is 23 x 4 = 92 pip

Trading suggestion:

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

DateOctober 24, 2020 - 21:23
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 0.7415, beginning of downtrend is expected.
  • We make sure when the support at 0.7005 breaks.
  • If the resistance at 0.7415 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 51 is broken, so the probability of beginning of downtrend is increased.
  • A trough is formed in daily chart at 0.7020 on 10/20/2020, so more gains to resistance(s) 0.7150, 0.7210, 0.7275 and maximum to Major Resistance (0.7415) 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 49.

Take Profits:

  1. 0.7150
  2. 0.7065
  3. 0.6940
  4. 0.6825
  5. 0.6685
Click on the level to view price action history.