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Weekly forecast Euro / Australian Dollar technical chart
Symbol EURAUD

Download MT4 template file

Trade Setup

#EURAUD
Total Profit: 230 pip
Closed trade(s): 26 pip Profit
Open trade(s): 204 pip Profit

Trade Setup:
We opened 13 SELL trade(s) @ 1.5631 based on 'D2 Reversal Candle(ShootingStar) & Close Below 1.5700' at 2018.08.06 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.5605 touched at 2018.08.07 with 26 pip Profit.

Open Profit:
Profit for one trade is 1.5631(open price) - 1.5614(current price) = 17 pip
12 trade(s) still open, therefore total profit for open trade(s) is 17 x 12 = 204 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateAugust 12, 2018 - 22:43
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.61900, resumption of downtrend is expected.
  • We make sure when the support at 1.52750 breaks.
  • If the resistance at 1.61900 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 49 is broken, so the probability of resumption of downtrend is increased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.5880 on 07/12/2018, so more losses to support(s) 1.5605, 1.5530, 1.5425 and minimum to Major Support (1.5275) 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 41.

Take Profits:

  1. 1.5605
  2. 1.5530
  3. 1.5425
  4. 1.5275
  5. 1.5075
  6. 1.4910
  7. 1.4605
  8. 1.4445
  9. 1.4040
  10. 1.3675
  11. 1.2225
  12. 1.1600
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.