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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

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Trade Setup
#EURAUD
Total Profit: 1606 pip
Closed trade(s): 388 pip Profit
Open trade(s): 1218 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 1.6256 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.
TP2 @ 1.6150 touched at 2019.10.30 with 106 pip Profit.
TP3 @ 1.5985 touched at 2019.11.07 with 271 pip Profit.
11 + 106 + 271 = 388 pip

Open Profit:
Profit for one trade is 1.6256(open price) - 1.6053(current price) = 203 pip
6 trade(s) still open, therefore total profit for open trade(s) is 203 x 6 = 1218 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.
  • If the Midterm level 1.6200 is broken, we will close open trades.

DateNovember 9, 2019 - 17:47
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 1.6200, beginning of downtrend is expected.
  • We make sure when the support at 1.5885 breaks.
  • If the resistance at 1.6200 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.6200 is broken.

Technical analysis:

  • A peak is formed in daily chart at 1.6430 on 10/16/2019, so more losses to support(s) 1.5985 and minimum to Major Support (1.5885) 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. 1.6245
  2. 1.6150
  3. 1.5985
  4. 1.5885
  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, 11 Jul 2020
Euro / Australian Dollar (EURAUD) Sat, 4 Jul 2020
Euro / Australian Dollar (EURAUD) Sat, 27 Jun 2020
Euro / Australian Dollar (EURAUD) Sat, 20 Jun 2020
Euro / Australian Dollar (EURAUD) Sat, 13 Jun 2020