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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

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Trade Setup
#EURAUD
Total Profit: -14 pip
Closed trade(s): 0 pip Profit
Open trade(s): -14 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.6319 (day close price) based on 'Valley' at 2020.11.12 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Open Profit:
Profit for one trade is 1.6317(current price) - 1.6319(open price) = -2 pip
7 trade(s) still open, therefore total profit for open trade(s) is -2 x 7 = -14 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.
DateDecember 5, 2020 - 20:43
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.58850, beginning of uptrend is expected.
  • We make sure when the resistance at 1.68250 breaks.
  • If the support at 1.58850 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 54 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.6115 on 11/24/2020, so more gains to resistance(s) 1.6460 and maximum to Major Resistance (1.6825) 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 51.

Take Profits:

  1. 1.6460
  2. 1.6825
  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, 14 Apr 2024
Euro / Australian Dollar (EURAUD) Sun, 7 Apr 2024
Euro / Australian Dollar (EURAUD) Sun, 31 Mar 2024
Euro / Australian Dollar (EURAUD) Sun, 24 Mar 2024
Euro / Australian Dollar (EURAUD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURAUD.