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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

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Trade Setup

#EURAUD
Total Profit: -118 pip
Closed trade(s): 71 pip Profit
Open trade(s): -189 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.5524 (day close price) based on 'Valley' at 2021.03.23 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.5595 touched at 2021.03.24 with 71 pip Profit.

Open Profit:
Profit for one trade is 1.5497(current price) - 1.5524(open price) = -27 pip
7 trade(s) still open, therefore total profit for open trade(s) is -27 x 7 = -189 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.

DateMay 8, 2021 - 13:17
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1.5250, beginning of uptrend is expected.
  • We make sure when the resistance at 1.5985 breaks.
  • If the support at 1.5250 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 38 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.5460 on 04/26/2021, so more gains to resistance(s) 1.5595, 1.5820 and maximum to Major Resistance (1.5985) 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 47.

Take Profits:

  1. 1.5595
  2. 1.5820
  3. 1.5985
  4. 1.6135
  5. 1.6415
  6. 1.6825
  7. 1.7315
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Australian Dollar (EURAUD) new Sun, 20 Jun 2021
Euro / Australian Dollar (EURAUD) Sat, 12 Jun 2021
Euro / Australian Dollar (EURAUD) Sat, 5 Jun 2021
Euro / Australian Dollar (EURAUD) Sun, 30 May 2021
Euro / Australian Dollar (EURAUD) free Sat, 22 May 2021