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

#AUDUSD
Total Profit: -1476 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1476 pip Profit

Trade Setup:
We opened 12 BUY trades @ 0.65208 based on 'Hammer' entry method at 2022-09-28.

Open Profit:
Profit for one BUY trade is 0.63977(current price) - 0.65208(open price) = -123 pip
12 trade(s) still open, therefore total profit for open trade(s) is -123 x 12 = -1476 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 1, 2022 - 15:28
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.63620, beginning of uptrend is expected.
  • We make sure when the resistance at 0.66760 breaks.
  • If the support at 0.63620 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.69155 on 09/13/2022, so more losses minimum to Major Support (0.63620) 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 29.

Take Profits:

  1. 0.65729
  2. 0.66760
  3. 0.67701
  4. 0.69100
  5. 0.70065
  6. 0.71350
  7. 0.72787
  8. 0.74570
  9. 0.76600
  10. 0.78900
  11. 0.83693
Click on the level to view price action history.