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Weekly forecast Australian Dollar / US Dollar technical chart

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Trade Setup

Total Profit: -1032 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1032 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 0.7713 (day close price) based on 'Peak' at 2021.04.30 signaled by DTO:

Open Profit:
Profit for one trade is 0.7713(open price) - 0.7842(current price) = -129 pip
8 trade(s) still open, therefore total profit for open trade(s) is -129 x 8 = -1032 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.

DateMay 8, 2021 - 18:01
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 0.8005, beginning of downtrend is expected.
  • We make sure when the support at 0.7565 breaks.
  • If the resistance at 0.8005 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.7674 on 05/04/2021, so more gains to resistance(s) 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 61.

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.