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

#AUDUSD
Total Profit: 2017 pip
Closed trade(s): 207 pip Profit
Open trade(s): 1810 pip Profit

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

Closed Profit:
TP1 @ 0.65729 touched at 2022-11-10 with 52 pip Profit.
TP2 @ 0.66760 touched at 2022-11-11 with 155 pip Profit.
52 + 155 = 207 pip

Open Profit:
Profit for one BUY trade is 0.67022(current price) - 0.65208(open price) = 181 pip
10 trade(s) still open, therefore total profit for open trade(s) is 181 x 10 = 1810 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.

DateNovember 12, 2022 - 14:33
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.61687, beginning of uptrend is expected.
  • We make sure when the resistance at 0.70065 breaks.
  • If the support at 0.61687 is broken, the short-term forecast -beginning of uptrend- 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 0.65215 on 10/27/2022, so more losses to support(s) 0.66798, 0.65729, 0.64306 and minimum to Major Support (0.61687) 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 64.

Take Profits:

  1. 0.65729
  2. 0.66798
  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.