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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

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Trade Setup

#AUDUSD
Total Profit: 560 pip
Closed trade(s): 38 pip Profit
Open trade(s): 522 pip Profit
_______________________________________________
Trade Setup:
We opened 7 SELL trade(s) @ 0.7798 (day close price) based on 'Peak' at 2018.03.15 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.7760 touched at 2018.03.16 with 38 pip Profit.

Open Profit:
Profit for one trade is 0.7798(open price) - 0.7711(current price) = 87 pip
6 trade(s) still open, therefore total profit for open trade(s) is 87 x 6 = 522 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.
DateMarch 17, 2018 - 20:42
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 0.7915 on 03/14/2018, so more losses to support(s) 0.7625, 0.7500, 0.7330 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 37.

Take Profits:

  1. 0.7760
  2. 0.7625
  3. 0.7500
  4. 0.7330
  5. 0.7160
  6. 0.6850
Click on the level to view price action history.
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History
Daily-Trading-Opportunities on AUDUSD.