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

#EURSGD
Total Profit: 1435 pip
Closed trade(s): 259 pip Profit
Open trade(s): 1176 pip Profit

Trade Setup:
We opened 16 BUY trades @ 1.39413 based on 'Valley' entry method at 2022-09-28.

Closed Profit:
TP1 @ 1.40095 touched at 2022-09-29 with 69 pip Profit.
TP2 @ 1.41307 touched at 2022-10-04 with 190 pip Profit.
69 + 190 = 259 pip

Open Profit:
Profit for one BUY trade is 1.40254(current price) - 1.39413(open price) = 84 pip
14 trade(s) still open, therefore total profit for open trade(s) is 84 x 14 = 1176 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.
DateOctober 30, 2022 - 11:57
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.37010, beginning of uptrend is expected.
  • We make sure when the resistance at 1.44483 breaks.
  • If the support at 1.37010 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 1.39562 on 2022-07-14 and the trough at 1.37012 on 2022-09-26, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.41575 on 10/26/2022, so more losses to support(s) 1.40095, 1.38171 and minimum to Major Support (1.37010) 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 52.

Take Profits:

  1. 1.40095
  2. 1.41307
  3. 1.42208
  4. 1.43264
  5. 1.44483
  6. 1.46303
  7. 1.47333
  8. 1.48821
  9. 1.50369
  10. 1.52493
  11. 1.54010
  12. 1.55660
  13. 1.58733
  14. 1.61170
  15. 1.62824
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / Singapore Dollar (EURSGD) 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.