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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

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Trade Setup

#AUDUSD
Total Profit: 228 pip
Closed trade(s): 228 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 0.7724 (day close price) based on 'Peak' at 2021.03.04 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.7655 touched at 2021.03.05 with 69 pip Profit.
TP2 @ 0.7565 touched at 2021.03.25 with 159 pip Profit.
69 + 159 = 228 pip

6 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.7780 to 0.7850). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.7780)
    • Resistance on 01/05/2021
    • Resistance on 01/08/2021
    • Resistance on 01/12/2021
    • Resistance on 01/13/2021
    • Resistance on 01/14/2021
    • Resistance on 01/15/2021
    • Resistance on 01/21/2021
    • Resistance on 02/15/2021
    • Resistance on 02/16/2021
    • Resistance on 02/18/2021
    • Resistance on 03/01/2021
    • Resistance on 03/04/2021
    • Resistance on 03/15/2021
  • Ending of entry zone (0.7850)
    • Support on 01/26/2015
    • Resistance on 02/03/2015
    • Resistance on 02/04/2015
    • Resistance on 02/06/2015
    • Resistance on 02/10/2015
    • Resistance on 02/19/2015
    • Resistance on 02/20/2015
    • Resistance on 02/23/2015
    • Resistance on 03/03/2015
    • Resistance on 03/04/2015
    • Resistance on 03/06/2015
    • Resistance on 03/18/2015
    • Resistance on 03/26/2015
    • Resistance on 04/17/2015
    • Resistance on 04/24/2015
    • Support on 04/28/2015
    • Resistance on 06/18/2015
    • Support on 08/09/2017
    • Support on 08/11/2017
    • Support on 08/14/2017
    • Support on 09/26/2017
    • Resistance on 10/17/2017
    • Resistance on 10/18/2017
    • Resistance on 01/09/2018
    • Resistance on 01/10/2018
    • Support on 01/12/2018
    • Support on 02/06/2018
    • Resistance on 02/08/2018
    • Support on 02/14/2018
    • Resistance on 02/22/2018
    • Resistance on 02/23/2018
    • Resistance on 03/09/2018
    • Support on 02/22/2021
    • Support on 02/25/2021
    • Resistance on 03/18/2021

DateApril 17, 2021 - 14:49
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.80050, beginning of downtrend is expected.
  • We make sure when the support at 0.75650 breaks.
  • If the resistance at 0.80050 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 0.7532 on 04/02/2021, so more gains to resistance(s) 0.7780, 0.7850 and maximum to Major Resistance (0.8005) 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 56.

Take Profits:

  1. 0.7655
  2. 0.7565
  3. 0.7415
  4. 0.7220
  5. 0.6990
  6. 0.6825
  7. 0.6685
Click on the level to view price action history.