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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

Download MT4 template file

Trade Setup
#GBPAUD
Total Profit: 497 pip
Closed trade(s): 497 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 13 SELL trade(s) @ 1.8254 based on 'Peak & Close below 1.8370' at 2019.01.29 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.8215 touched at 2019.01.30 with 39 pip Profit.
TP2 @ 1.8110 touched at 2019.01.30 with 144 pip Profit.
TP3 @ 1.7940 touched at 2019.02.01 with 314 pip Profit.
39 + 144 + 314 = 497 pip

10 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.8510 to 1.8725). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is above the level 1.8370, the probability of beginning of downtrend is too weak, so we would enter the market with sell trades based on Daily-Trading-Opportunities and a day close price below 1.8370 and expect to reach short-term targets.

  • Beginning of entry zone (1.8510)
    • Resistance on 12/18/2013
    • Resistance on 12/19/2013
    • Resistance on 12/26/2013
    • Support on 12/30/2013
    • Support on 12/31/2013
    • Resistance on 01/03/2014
    • Resistance on 01/08/2014
    • Support on 01/17/2014
    • Support on 01/22/2014
    • Support on 02/03/2014
    • Resistance on 02/17/2014
    • Resistance on 02/18/2014
    • Resistance on 02/21/2014
    • Resistance on 02/24/2014
    • Resistance on 02/25/2014
    • Support on 03/05/2014
    • Resistance on 03/11/2014
    • Resistance on 03/12/2014
    • Support on 09/29/2014
    • Support on 09/30/2014
    • Support on 10/01/2014
    • Resistance on 10/10/2014
    • Resistance on 10/13/2014
    • Resistance on 11/07/2014
    • Resistance on 11/26/2014
    • Resistance on 11/27/2014
    • Resistance on 11/28/2014
    • Support on 01/08/2015
    • Support on 01/13/2015
    • Support on 01/14/2015
    • Support on 01/21/2015
    • Support on 04/01/2016
    • Support on 04/04/2016
    • Support on 04/07/2016
    • Support on 04/13/2016
    • Resistance on 04/18/2016
    • Resistance on 04/21/2016
    • Peak on 03/28/2018
    • Resistance on 03/28/2018
    • Resistance on 10/09/2018
    • Support on 10/11/2018
    • Resistance on 01/25/2019
  • Ending of entry zone (1.8725)
    • Resistance on 01/17/2014
    • Resistance on 01/20/2014
    • Resistance on 01/21/2014
    • Resistance on 01/22/2014
    • Support on 01/30/2014
    • Support on 01/31/2014
    • Resistance on 02/03/2014
    • Resistance on 12/04/2014
    • Resistance on 12/05/2014
    • Support on 12/08/2014
    • Support on 01/06/2015
    • Resistance on 01/08/2015
    • Resistance on 01/14/2015
    • Resistance on 01/15/2015
    • Resistance on 01/21/2015
    • Resistance on 01/22/2015
    • Support on 03/17/2016
    • Support on 03/24/2016
    • Support on 03/25/2016
    • Support on 03/30/2016
    • Support on 03/31/2016
    • Support on 04/05/2016
    • Resistance on 04/07/2016
    • Resistance on 04/22/2016
    • Resistance on 10/10/2018
    • Peak on 10/11/2018
    • Resistance on 10/11/2018
DateFebruary 9, 2019 - 22:48
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

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

Technical analysis:

  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • While the RSI resistance #2 at 70 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.7870 on 02/05/2019, so more gains to resistance(s) 1.8370 and maximum to Trend Hunter Sell Zone (1.8510 to 1.8725) 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 59.

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.
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.