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

#EURNZD
Total Profit: 7309 pip
Closed trade(s): 4201 pip Profit
Open trade(s): 3108 pip Profit

Trade Setup:
We opened 11 BUY trades @ 1.62301 based on 'Valley' entry method at 2022-08-26, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 1.63560 touched at 2022-08-31 with 126 pip Profit.
TP2 @ 1.65304 touched at 2022-09-08 with 300 pip Profit.
TP3 @ 1.66730 touched at 2022-09-14 with 443 pip Profit.
TP4 @ 1.67944 touched at 2022-09-19 with 564 pip Profit.
TP5 @ 1.69683 touched at 2022-09-26 with 738 pip Profit.
TP6 @ 1.71500 touched at 2022-09-28 with 920 pip Profit.
TP7 @ 1.73400 touched at 2022-09-30 with 1110 pip Profit.
126 + 300 + 443 + 564 + 738 + 920 + 1110 = 4201 pip

Open Profit:
Profit for one BUY trade is 1.70069(current price) - 1.62301(open price) = 777 pip
4 trade(s) still open, therefore total profit for open trade(s) is 777 x 4 = 3108 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 1.66730 is broken, we will close open trades.

DateMarch 18, 2023 - 23:26
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.66730, resumption of uptrend is expected.
  • We make sure when the resistance at 1.75438 breaks.
  • If the support at 1.66730 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.66730 is broken.

Technical analysis:

  • A peak is formed in daily chart at 1.73940 on 03/13/2023, so more losses to support(s) 1.69837, 1.67957 and minimum to Major Support (1.66730) 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 44.

Take Profits:

  1. 1.63560
  2. 1.65304
  3. 1.66730
  4. 1.67957
  5. 1.69837
  6. 1.71500
  7. 1.73400
  8. 1.76450
  9. 1.79300
  10. 1.82200
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / New Zealand Dollar (EURNZD) new Thu, 29 Feb 2024
Euro / New Zealand Dollar (EURNZD) Sun, 25 Feb 2024
Euro / New Zealand Dollar (EURNZD) Sun, 18 Feb 2024
Euro / New Zealand Dollar (EURNZD) Sun, 11 Feb 2024
Euro / New Zealand Dollar (EURNZD) Sun, 4 Feb 2024