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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD
Trade Setup

#AUDUSD
Total Profit: 168 pip
Closed trade(s): 48 pip Profit
Open trade(s): 120 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 0.7290 (day close price) based on 'Valley' at 2021.10.05 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.7338 touched at 2021.10.06 with 48 pip Profit.

Open Profit:
Profit for one trade is 0.7305(current price) - 0.7290(open price) = 15 pip
8 trade(s) still open, therefore total profit for open trade(s) is 15 x 8 = 120 pip

Trading suggestion:

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

DateOctober 9, 2021 - 13:01
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 0.7105, beginning of uptrend is expected.
  • We make sure when the resistance at 0.7475 breaks.
  • If the support at 0.7105 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.7170 on 09/30/2021, so more gains to resistance(s) 0.7338, 0.7398 and maximum to Major Resistance (0.7475) 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 52.

Take Profits:

  1. 0.7338
  2. 0.7398
  3. 0.7475
  4. 0.7565
  5. 0.7655
  6. 0.7780
  7. 0.7850
  8. 0.8005
Click on the level to view price action history.