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Weekly forecast Australian Dollar vs. US Dollar technical chart
Symbol AUDUSD

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Trade Setup

#AUDUSD
Total Profit: -12 pip
Closed trade(s): 30 pip Profit
Open trade(s): -42 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 0.7200 (day close price) based on 'Valley & Close above 0.7105' at 2018.11.01 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.7230 touched at 2018.11.02 with 30 pip Profit.

Open Profit:
Profit for one trade is 0.7194(current price) - 0.7200(open price) = -6 pip
7 trade(s) still open, therefore total profit for open trade(s) is -6 x 7 = -42 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.

DateSun, 11/04/2018 - 10:22
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

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

Technical analysis:

  • The RSI resistance #1 at 56 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.7020 on 10/26/2018, so more gains to resistance(s) 0.7230, 0.7320, 0.7445 and more heights 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 58.

Take Profits:

  1. 0.7230
  2. 0.7320
  3. 0.7445
  4. 0.7575
  5. 0.7655
  6. 0.7805
  7. 0.8135
Click on the level to view price action history.