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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

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Trade Setup
#EURAUD
Total Profit: 1888 pip
Closed trade(s): 268 pip Profit
Open trade(s): 1620 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.6292 (day close price) based on 'Valley' at 2020.09.03 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.6560 touched at 2020.09.24 with 268 pip Profit.

Open Profit:
Profit for one trade is 1.6562(current price) - 1.6292(open price) = 270 pip
6 trade(s) still open, therefore total profit for open trade(s) is 270 x 6 = 1620 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.
  • If the Midterm level 1.64600 is broken, we will close open trades.

DateOctober 31, 2020 - 18:59
Currentuptrend
Forecastresumption of uptrend

Midterm forecast:

  • 1.64600 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 1.64600 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A trough is formed in daily chart at 1.6460 on 10/28/2020, so more gains to resistance(s) 1.6885, 1.7315, 1.7815 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 53.

Take Profits:

  1. 1.6560
  2. 1.6885
  3. 1.7315
  4. 1.7815
  5. 1.8570
  6. 1.9800
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Australian Dollar (EURAUD) Sun, 24 Mar 2024
Euro / Australian Dollar (EURAUD) Sun, 17 Mar 2024
Euro / Australian Dollar (EURAUD) Sun, 10 Mar 2024
Euro / Australian Dollar (EURAUD) Sun, 3 Mar 2024
Euro / Australian Dollar (EURAUD) Wed, 28 Feb 2024