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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

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Trade Setup
#AUDUSD
Total Profit: 101 pip
Closed trade(s): 101 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 11 BUY trade(s) @ 0.7067 (day close price) based on 'Valley' at 2019.03.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 0.7085 touched at 2019.03.12 with 18 pip Profit.
TP2 @ 0.7150 touched at 2019.03.21 with 83 pip Profit.
18 + 83 = 101 pip

9 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.7020 to 0.6940). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.7020)
    • Trough on 10/26/2018
    • Support on 10/26/2018
    • Support on 12/27/2018
    • Resistance on 01/02/2019
    • Resistance on 01/03/2019
    • Support on 03/06/2019
  • Ending of entry zone (0.6940)
    • Resistance on 09/07/2015
    • Support on 09/10/2015
    • Support on 09/24/2015
    • Support on 09/29/2015
    • Support on 01/08/2016
    • Support on 01/11/2016
    • Support on 01/12/2016
    • Support on 01/13/2016
    • Support on 01/14/2016
    • Resistance on 01/19/2016
    • Support on 01/25/2016
    • Support on 01/26/2016
    • Support on 01/03/2019

DateMarch 30, 2019 - 23:02
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.73800 would begin in Midterm.

Technical analysis:

  • While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 0.7145 on 03/26/2019, so more losses to support(s) 0.7085 and minimum to Trend Hunter Buy Zone (0.7020 to 0.6940) 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 49.

Take Profits:

  1. 0.7085
  2. 0.7150
  3. 0.7230
  4. 0.7300
  5. 0.7380
  6. 0.7445
  7. 0.7575
  8. 0.7655
  9. 0.7805
  10. 0.8135
Click on the level to view price action history.