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Weekly forecast Euro / New Zealand Dollar technical chart
Symbol EURNZD
Trade Setup

#EURNZD
Total Profit: 3584 pip
Closed trade(s): 1436 pip Profit
Open trade(s): 2148 pip Profit

Trade Setup:
We opened 9 BUY trades @ 1.60794 based on 'Valley' entry method at 2022-04-21, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 1.63489 touched at 2022-04-25 with 270 pip Profit.
TP2 @ 1.65304 touched at 2022-05-09 with 451 pip Profit.
TP3 @ 1.67944 touched at 2022-05-10 with 715 pip Profit.
270 + 451 + 715 = 1436 pip

Open Profit:
Profit for one BUY trade is 1.64374(current price) - 1.60794(open price) = 358 pip
6 trade(s) still open, therefore total profit for open trade(s) is 358 x 6 = 2148 pip

#EURNZD
Total Profit: 3584 pip
Closed trade(s): 1436 pip Profit
Open trade(s): 2148 pip Profit

Trade Setup:
We opened 9 BUY trades @ 1.60794 based on 'Valley' entry method at 2022-04-21, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 1.63489 touched at 2022-04-25 with 270 pip Profit.
TP2 @ 1.65304 touched at 2022-05-09 with 451 pip Profit.
TP3 @ 1.67944 touched at 2022-05-10 with 715 pip Profit.
270 + 451 + 715 = 1436 pip

Open Profit:
Profit for one BUY trade is 1.64374(current price) - 1.60794(open price) = 358 pip
6 trade(s) still open, therefore total profit for open trade(s) is 358 x 6 = 2148 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 1.63556 is broken, we will close open trades.
DateJuly 10, 2022 - 18:58
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.69683, beginning of downtrend is expected.
  • We make sure when the support at 1.63556 breaks.
  • If the resistance at 1.69683 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.63556 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.68397 on 2022-05-12 and the peak at 1.69659 on 2022-07-01, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.69660 on 07/01/2022, so more losses minimum to Major Support (1.63556) 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 40.

Take Profits:

  1. 1.65304
  2. 1.63556
  3. 1.61000
  4. 1.57714
  5. 1.56129
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / New Zealand Dollar (EURNZD) new Sun, 14 Apr 2024
Euro / New Zealand Dollar (EURNZD) Sun, 7 Apr 2024
Euro / New Zealand Dollar (EURNZD) Sun, 31 Mar 2024
Euro / New Zealand Dollar (EURNZD) Sun, 24 Mar 2024
Euro / New Zealand Dollar (EURNZD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURNZD.