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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

Download MT4 template file

Trade Setup

#GBPAUD
Total Profit: 4479 pip
Closed trade(s): 695 pip Profit
Open trade(s): 3784 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) - 1.7697(current price) = 473 pip
8 trade(s) still open, therefore total profit for open trade(s) is 473 x 8 = 3784 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 29, 2018 - 16:52
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.79950 would begin in Midterm.
  • We will close our open trades, if the Midterm level 1.79950 is broken.

Technical analysis:

  • The RSI bounced from the resistance #1 at 60 and it prevented price from more gains.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.7940 on 07/12/2018, so more losses to support(s) 1.7650, 1.7365, 1.7065 and more depths 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. 1.7995
  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.
Symbol Released Current Forecast
British Pound / Australian Dollar (GBPAUD) Sun, 14 Apr 2024
British Pound / Australian Dollar (GBPAUD) Sat, 6 Apr 2024
British Pound / Australian Dollar (GBPAUD) Mon, 1 Apr 2024
British Pound / Australian Dollar (GBPAUD) Sat, 30 Mar 2024
British Pound / Australian Dollar (GBPAUD) Mon, 25 Mar 2024
History
Daily-Trading-Opportunities on GBPAUD.