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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

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Trade Setup

#GBPAUD
Total Profit: 3914 pip
Closed trade(s): 734 pip Profit
Open trade(s): 3180 pip Profit

Trade Setup:
We opened 13 SELL trade(s) @ 1.8333 (day close price) based on 'Peak & Close below 1.8370' at 2018.10.18 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.8215 touched at 2018.10.24 with 118 pip Profit.
TP2 @ 1.8110 touched at 2018.10.25 with 223 pip Profit.
TP3 @ 1.7940 touched at 2018.10.30 with 393 pip Profit.
118 + 223 + 393 = 734 pip

Open Profit:
Profit for one trade is 1.8333(open price) - 1.8015(current price) = 318 pip
10 trade(s) still open, therefore total profit for open trade(s) is 318 x 10 = 3180 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.

DateNovember 3, 2018 - 16:17
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • Although current trend is uptrend, but we forecast a downtrend wave would begin in Midterm.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.8375 on 2018-09-11 and the peak at 1.8722 on 2018-10-10, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI support #1 at 50 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.8725 on 10/11/2018, so more losses to support(s) 1.7940, 1.7800, 1.7650 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 42.

Take Profits:

  1. 1.8215
  2. 1.8110
  3. 1.7940
  4. 1.7800
  5. 1.7650
  6. 1.7500
  7. 1.7285
  8. 1.7065
  9. 1.6860
  10. 1.6550
  11. 1.6160
  12. 1.4375
Click on the level to view price action history.