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Weekly forecast Euro / Singapore Dollar technical chart
Symbol EURSGD

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Trade Setup
#EURSGD
Total Profit: 3374 pip
Closed trade(s): 2385 pip Profit
Open trade(s): 989 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.5095 based on 'Valley' at 2020.02.20.

Closed Profit:
TP1 @ 1.5160 touched at 2020.02.21 with 65 pip Profit.
TP2 @ 1.5240 touched at 2020.02.27 with 145 pip Profit.
TP3 @ 1.5365 touched at 2020.02.28 with 270 pip Profit.
TP4 @ 1.5570 touched at 2020.03.06 with 475 pip Profit.
TP5 @ 1.5720 touched at 2020.03.09 with 625 pip Profit.
TP6 @ 1.5900 touched at 2020.03.16 with 805 pip Profit.
65 + 145 + 270 + 475 + 625 + 805 = 2385 pip

Open Profit:
Profit for one trade is 1.6084(current price) - 1.5095(open price) = 989 pip
1 trade(s) still open, therefore total profit for open trade(s) is 989 x 1 = 989 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 1.5900 is broken, we will close open trades.

DateSeptember 19, 2020 - 20:13
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1.5900, resumption of uptrend is expected.
  • We make sure when the resistance at 1.6305 breaks.
  • If the support at 1.5900 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.5900 is broken.

Technical analysis:

  • The RSI support #1 at 48 is broken, so the probability of resumption of uptrend is decreased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.5990 on 09/17/2020, so more gains to resistance(s) 1.6100, 1.6250 and maximum to Major Resistance (1.6305) 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 45.

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) new Sat, 24 Oct 2020
Euro / Singapore Dollar (EURSGD) Sat, 17 Oct 2020
Euro / Singapore Dollar (EURSGD) Sat, 10 Oct 2020
Euro / Singapore Dollar (EURSGD) Sat, 3 Oct 2020
Euro / Singapore Dollar (EURSGD) free Sat, 26 Sep 2020