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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

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Trade Setup

#GBPAUD
Total Profit: 3447 pip
Closed trade(s): 695 pip Profit
Open trade(s): 2752 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 1.8170 (day close price) based on 'Peak' at 2018.04.27 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.7995 touched at 2018.05.04 with 175 pip Profit.
TP2 @ 1.7650 touched at 2018.05.23 with 520 pip Profit.
175 + 520 = 695 pip

Open Profit:
Profit for one trade is 1.8170(open price) - 1.7826(current price) = 344 pip
8 trade(s) still open, therefore total profit for open trade(s) is 344 x 8 = 2752 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.79950 is broken, we will close open trades.

DateJuly 1, 2018 - 15:36
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.79950 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 1.79950 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of downtrend is decreased.
  • The RSI bounced from the resistance #2 at 60 and it prevented price from more gains.
  • A trough is formed in daily chart at 1.7390 on 06/05/2018, so more gains maximum to Major Resistance (1.7995) 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. 1.7995
  2. 1.7650
  3. 1.7365
  4. 1.7065
  5. 1.6860
  6. 1.6550
  7. 1.6160
  8. 1.5790
  9. 1.4375
Click on the level to view price action history.