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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

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Trade Setup
#EURAUD
Total Profit: 1247 pip
Closed trade(s): 293 pip Profit
Open trade(s): 954 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 1.6214 (day close price) based on 'Two-day reversal candle (Shooting Satr)' at 2019.12.18 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.6150 touched at 2019.12.19 with 64 pip Profit.
TP2 @ 1.5985 touched at 2019.12.26 with 229 pip Profit.
64 + 229 = 293 pip

Open Profit:
Profit for one trade is 1.6214(open price) - 1.6055(current price) = 159 pip
6 trade(s) still open, therefore total profit for open trade(s) is 159 x 6 = 954 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 1.61500 is broken, we will close open trades.

DateJanuary 4, 2020 - 21:08
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.61500, beginning of downtrend is expected.
  • We make sure when the support at 1.58850 breaks.
  • If the resistance at 1.61500 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.61500 is broken.

Technical analysis:

  • A trough is formed in daily chart at 1.5960 on 12/31/2019, so more gains maximum to Major Resistance (1.6150) 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 45.

Take Profits:

  1. 1.6150
  2. 1.5985
  3. 1.5885
  4. 1.5605
  5. 1.5345
  6. 1.5205
  7. 1.4835
Click on the level to view price action history.

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