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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

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Trade Setup

#AUDUSD
Total Profit: 2369 pip
Closed trade(s): 504 pip Profit
Open trade(s): 1865 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:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.7655 touched at 2021.06.03 with 58 pip Profit.
TP2 @ 0.7565 touched at 2021.06.17 with 148 pip Profit.
TP3 @ 0.7415 touched at 2021.07.09 with 298 pip Profit.
58 + 148 + 298 = 504 pip

Open Profit:
Profit for one trade is 0.7713(open price) - 0.7340(current price) = 373 pip
5 trade(s) still open, therefore total profit for open trade(s) is 373 x 5 = 1865 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.
  • If the Midterm level 0.7655 is broken, we will close open trades.

DateJuly 31, 2021 - 11:08
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBearish

Midterm forecast:

  • 0.7655 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 0.7655 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.7415 on 07/29/2021, so more losses to support(s) 0.7220, 0.6990, 0.6825 and more depths 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 36.

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.