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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

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Trade Setup

#GBPAUD
Total Profit: 384 pip
Closed trade(s): 0 pip Profit
Open trade(s): 384 pip Profit
_______________________________________________
Trade Setup:
We opened 16 BUY trade(s) @ 1.7087 based on 'Valley' entry method at 2016.12.16.

Open Profit:
Profit for one trade is 1.7111(current price) - 1.7087(open price) = 24 pip
16 trade(s) still open, therefore total profit for open trade(s) is 24 x 16 = 384 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.6795 to 1.6380). 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 (1.6795)
    • Support on 12/14/2016
    • Support on 12/09/2016
    • Resistance on 11/29/2016
    • Resistance on 11/28/2016
    • Support on 11/24/2016
    • Support on 11/21/2016
    • Resistance on 11/17/2016
    • Resistance on 10/06/2016
    • Support on 08/12/2016
    • Support on 08/11/2016
    • Resistance on 10/23/2013
    • Resistance on 10/18/2013
    • Resistance on 10/17/2013
    • Resistance on 10/16/2013
    • Support on 10/11/2013
    • Trough on 08/20/2013
    • Trough on 08/15/2013
    • Trough on 08/13/2013
    • Support on 08/12/2013
    • Trough on 08/12/2013
    • Support on 07/31/2013
    • Resistance on 07/25/2013
    • Resistance on 06/25/2013
    • Resistance on 06/24/2013
    • Support on 09/08/2010
    • Support on 09/03/2010
    • Support on 06/22/2010
    • Support on 06/21/2010
    • Resistance on 05/12/2010
    • Resistance on 05/07/2010
  • Ending of entry zone (1.6380)
    • Support on 11/15/2016
    • Resistance on 11/09/2016
    • Resistance on 11/04/2016
    • Peak on 08/15/2011
    • Peak on 08/11/2011
    • Peak on 08/10/2011
    • Peak on 08/09/2011

DateDecember 25, 2016 - 19:13
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 1.6800 on 12/09/2016, so more gains to resistance(s) 1.7205, 1.7455, 1.7730 and more heights 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 61.

Take Profits:

  1. 1.7205
  2. 1.7455
  3. 1.7730
  4. 1.7860
  5. 1.8135
  6. 1.8300
  7. 1.8660
  8. 1.9030
  9. 1.9440
  10. 1.9730
  11. 2.0000
  12. 2.0535
  13. 2.0870
  14. 2.1470
  15. 2.2400
Click on the level to view price action history.