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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

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Trade Setup

#EURJPY
Total Profit: 6682 pip
Closed trade(s): 2080 pip Profit
Open trade(s): 4602 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 134.06 (day close price) based on 'Peak' at 2018.02.07 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 133.25 touched at 2018.02.08 with 82 pip Profit.
TP2 @ 131.65 touched at 2018.02.14 with 242 pip Profit.
TP3 @ 129.65 touched at 2018.03.02 with 442 pip Profit.
TP4 @ 128.20 touched at 2018.05.24 with 587 pip Profit.
TP5 @ 126.80 touched at 2018.05.29 with 727 pip Profit.
82 + 242 + 442 + 587 + 727 = 2080 pip

Open Profit:
Profit for one trade is 134.06(open price) - 126.40(current price) = 767 pip
6 trade(s) still open, therefore total profit for open trade(s) is 767 x 6 = 4602 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.
  • If the Midterm level 129.650 is broken, we will close open trades.

DateAugust 19, 2018 - 19:10
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 129.650, resumption of downtrend is expected.
  • We make sure when the support at 124.600 breaks.
  • If the resistance at 129.650 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 129.650 is broken.

Technical analysis:

  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 129.45 on 08/08/2018, so more losses minimum to Major Support (124.60) 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 35.

Take Profits:

  1. 133.25
  2. 131.65
  3. 129.65
  4. 128.20
  5. 126.80
  6. 124.10
  7. 122.30
  8. 118.45
  9. 114.85
  10. 111.25
Click on the level to view price action history.

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