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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

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Trade Setup

#EURAUD
Total Profit: 3962 pip
Closed trade(s): 1434 pip Profit
Open trade(s): 2528 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.
TP2 @ 1.5820 touched at 2021.05.24 with 296 pip Profit.
TP3 @ 1.5985 touched at 2021.07.19 with 461 pip Profit.
TP4 @ 1.6130 touched at 2021.07.30 with 606 pip Profit.
71 + 296 + 461 + 606 = 1434 pip

Open Profit:
Profit for one trade is 1.6156(current price) - 1.5524(open price) = 632 pip
4 trade(s) still open, therefore total profit for open trade(s) is 632 x 4 = 2528 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 1.55950 is broken, we will close open trades.

DateJuly 31, 2021 - 16:24
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.55950, beginning of uptrend is expected.
  • We make sure when the resistance at 1.61750 breaks.
  • If the support at 1.55950 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.55950 is broken.

Technical analysis:

  • While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.5900 on 07/23/2021, so more gains maximum to Major Resistance (1.6175) 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 69.

Take Profits:

  1. 1.5595
  2. 1.5820
  3. 1.5985
  4. 1.6130
  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, 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
Euro / Australian Dollar (EURAUD) Sun, 25 Feb 2024