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Weekly forecast Euro / Singapore Dollar technical chart
Symbol EURSGD
Trade Setup

#EURSGD
Total Profit: 3345 pip
Closed trade(s): 3345 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 1.6120 based on 'Peak' at 2021.05.26.

Closed Profit:
TP1 @ 1.6100 touched at 2021.05.28 with 20 pip Profit.
TP2 @ 1.6010 touched at 2021.06.16 with 110 pip Profit.
TP3 @ 1.5841 touched at 2021.08.27 with 279 pip Profit.
TP4 @ 1.5499 touched at 2021.11.11 with 621 pip Profit.
TP5 @ 1.5293 touched at 2021.11.25 with 827 pip Profit.
20 + 110 + 279 + 621 + 827 = 1857 pip

Closed Profit:
Profit for one trade is 1.6120(open price) - 1.5376(current price) = 744 pip
2 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 744 x 2 = 1488 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.5293 to 1.5250). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.5293)
  • Ending of entry zone (1.5250)
DateJanuary 9, 2022 - 20:34
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.52500, beginning of uptrend is expected.
  • We make sure when the resistance at 1.55660 breaks.
  • If the support at 1.52500 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.52909 on 2021-11-25 and the trough at 1.5244088486671 on 2022-01-07, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.5250 on 12/31/2021, so more gains to resistance(s) 1.5499 and maximum to Major Resistance (1.5566) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 51.

Take Profits:

  1. 1.5499
  2. 1.5650
  3. 1.5766
  4. 1.5841
  5. 1.5960
  6. 1.6010
  7. 1.6100
  8. 1.6250
  9. 1.6440
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / Singapore Dollar (EURSGD) new Sun, 14 Apr 2024
Euro / Singapore Dollar (EURSGD) Sun, 7 Apr 2024
Euro / Singapore Dollar (EURSGD) Sun, 31 Mar 2024
Euro / Singapore Dollar (EURSGD) Sun, 24 Mar 2024
Euro / Singapore Dollar (EURSGD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURSGD.