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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD
Trade Setup

#EURAUD
Total Profit: 3941 pip
Closed trade(s): 2330 pip Profit
Open trade(s): 1611 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 @ 1.6135 touched at 2021.07.30 with 611 pip Profit.
TP5 @ 1.6415 touched at 2021.08.20 with 891 pip Profit.
71 + 296 + 461 + 611 + 891 = 2330 pip

Open Profit:
Profit for one trade is 1.6061(current price) - 1.5524(open price) = 537 pip
3 trade(s) still open, therefore total profit for open trade(s) is 537 x 3 = 1611 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.

DateSeptember 12, 2021 - 09:58
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.64150, beginning of downtrend is expected.
  • We make sure when the support at 1.55950 breaks.
  • If the resistance at 1.64150 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.55950 is broken.

Technical analysis:

  • The RSI support #1 at 48 is broken, so the probability of beginning of downtrend is increased.
  • A trough is formed in daily chart at 1.5912 on 09/06/2021, so more gains to resistance(s) 1.6135, 1.6185 and maximum to Major Resistance (1.6415) 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 50.

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, 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