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

#EURAUD
Total Profit: 3265 pip
Closed trade(s): 605 pip Profit
Open trade(s): 2660 pip Profit

Trade Setup:
We opened 9 BUY trades @ 1.44517 based on 'Valley' entry method at 2022-08-26.

Closed Profit:
TP1 @ 1.46500 touched at 2022-08-31 with 198 pip Profit.
TP2 @ 1.48594 touched at 2022-09-08 with 407 pip Profit.
198 + 407 = 605 pip

Open Profit:
Profit for one BUY trade is 1.48323(current price) - 1.44517(open price) = 380 pip
7 trade(s) still open, therefore total profit for open trade(s) is 380 x 7 = 2660 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.
DateSeptember 24, 2022 - 20:11
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.42790, resumption of uptrend is expected.
  • We make sure when the resistance at 1.53564 breaks.
  • If the support at 1.42790 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.45053 on 2022-07-27 and the trough at 1.4279 on 2022-08-26, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 1.49670 on 09/16/2022, so more losses to support(s) 1.46500, 1.45056, 1.43770 and minimum to Major Support (1.42790) 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 56.

Take Profits:

  1. 1.46500
  2. 1.48594
  3. 1.50570
  4. 1.52023
  5. 1.53564
  6. 1.55790
  7. 1.59299
  8. 1.62330
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.