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Weekly forecast Euro / Singapore Dollar technical chart

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Trade Setup
Total Profit: -1708 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1708 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.5121 (day close price) based on 'Valley' at 2019.12.02.

Open Profit:
Profit for one trade is 1.4877(current price) - 1.5121(open price) = -244 pip
7 trade(s) still open, therefore total profit for open trade(s) is -244 x 7 = -1708 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.

DateJanuary 25, 2020 - 21:25
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1.4775, beginning of uptrend is expected.
  • We make sure when the resistance at 1.5240 breaks.
  • If the support at 1.4775 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.5110 on 01/06/2020, so more losses to support(s) 1.4810 and minimum to Major Support (1.4775) 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 32.

Take Profits:

  1. 1.5160
  2. 1.5240
  3. 1.5365
  4. 1.5570
  5. 1.5720
  6. 1.5900
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Singapore Dollar (EURSGD) Sat, 12 Sep 2020
Euro / Singapore Dollar (EURSGD) Sat, 5 Sep 2020
Euro / Singapore Dollar (EURSGD) Sat, 29 Aug 2020
Euro / Singapore Dollar (EURSGD) Sat, 22 Aug 2020
Euro / Singapore Dollar (EURSGD) Sat, 15 Aug 2020