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Weekly forecast Australian Dollar / US Dollar technical chart

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Trade Setup

Total Profit: 142 pip
Closed trade(s): 58 pip Profit
Open trade(s): 84 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:

Closed Profit:
TP1 @ 0.7655 touched at 2021.06.03 with 58 pip Profit.

Open Profit:
Profit for one trade is 0.7713(open price) - 0.7701(current price) = 12 pip
7 trade(s) still open, therefore total profit for open trade(s) is 12 x 7 = 84 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.

DateJune 12, 2021 - 12:39
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

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 peak is formed in daily chart at 0.7775 on 06/11/2021, so more losses to support(s) 0.7700, 0.7655 and minimum to Major Support (0.7565) 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. 0.7655
  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.