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Weekly forecast Euro / New Zealand Dollar technical chart
Symbol EURNZD

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Trade Setup

#EURNZD
Total Profit: 3034 pip
Closed trade(s): 154 pip Profit
Open trade(s): 2880 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 1.7119 (day close price) based on 'Peak' at 2018.05.16 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.6965 touched at 2018.05.21 with 154 pip Profit.

Open Profit:
Profit for one trade is 1.7119(open price) - 1.6831(current price) = 288 pip
10 trade(s) still open, therefore total profit for open trade(s) is 288 x 10 = 2880 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.
DateMay 26, 2018 - 21:57
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.74800, beginning of downtrend is expected.
  • We make sure when the support at 1.66700 breaks.
  • If the resistance at 1.74800 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.725 on 2018-04-25 and the peak at 1.7295 on 2018-05-15, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.7295 on 05/15/2018, so more losses to support(s) 1.6815 and more depths 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 37.

Take Profits:

  1. 1.6965
  2. 1.6815
  3. 1.6670
  4. 1.6355
  5. 1.6205
  6. 1.6010
  7. 1.5655
  8. 1.5255
  9. 1.4535
  10. 1.3875
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / New Zealand Dollar (EURNZD) 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.