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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

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Trade Setup
#GBPAUD
Total Profit: -1120 pip
Closed trade(s): 98 pip Profit
Open trade(s): -1218 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 1.8468 based on 'Two-day reversal candle(Shooting star)' at 2019.03.12 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.8370 touched at 2019.03.21 with 98 pip Profit.

Open Profit:
Profit for one trade is 1.8468(open price) - 1.8642(current price) = -174 pip
7 trade(s) still open, therefore total profit for open trade(s) is -174 x 7 = -1218 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.
DateMarch 23, 2019 - 18:13
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.90300, beginning of downtrend is expected.
  • We make sure when the support at 1.83700 breaks.
  • If the resistance at 1.90300 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.8860 on 03/14/2019, so more losses to support(s) 1.8510 and minimum to Major Support (1.8370) 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 55.

Take Profits:

  1. 1.8370
  2. 1.8215
  3. 1.7940
  4. 1.7650
  5. 1.7285
  6. 1.6860
  7. 1.5790
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.