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Trend Hunter performance since 2015 for this symbol

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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

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Trade Setup
#EURAUD
Total Profit: -245 pip
Closed trade(s): 11 pip Profit
Open trade(s): -256 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 1.6256 (day close price) based on 'Two-day reversal candle (Shooting Satr)' at 2019.10.03 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.6245 touched at 2019.10.04 with 11 pip Profit.

Open Profit:
Profit for one trade is 1.6256(open price) - 1.6288(current price) = -32 pip
8 trade(s) still open, therefore total profit for open trade(s) is -32 x 8 = -256 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.

DateSat, 10/19/2019 - 18:38
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 1.6785, beginning of downtrend is expected.
  • We make sure when the support at 1.5890 breaks.
  • If the resistance at 1.6785 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
  • A peak is formed in daily chart at 1.6430 on 10/16/2019, so more losses to support(s) 1.6245, 1.6150, 1.5985 and minimum to Major Support (1.5890) 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 52.

Take Profits:

  1. 1.6245
  2. 1.6150
  3. 1.5985
  4. 1.5890
  5. 1.5605
  6. 1.5345
  7. 1.5205
  8. 1.4835
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Australian Dollar (EURAUD) new Sat, 23 May 2020
Euro / Australian Dollar (EURAUD) Sat, 16 May 2020
Euro / Australian Dollar (EURAUD) Sat, 9 May 2020
Euro / Australian Dollar (EURAUD) Sat, 2 May 2020
Euro / Australian Dollar (EURAUD) Sat, 25 Apr 2020