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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

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Trade Setup
#GBPAUD
Total Profit: 278 pip
Closed trade(s): 278 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 1.8579 (day close price) based on 'Two-day reversal candle (Shooting star)' at 2019.05.14 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.8510 touched at 2019.05.15 with 69 pip Profit.
TP2 @ 1.8370 touched at 2019.05.20 with 209 pip Profit.
69 + 209 = 278 pip

6 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 (1.8725 to 1.8880). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning 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
    • 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 04/08/2016
    • Resistance on 04/22/2016
    • Resistance on 10/10/2018
    • Peak on 10/11/2018
    • Resistance on 10/11/2018
    • Resistance on 02/28/2019
    • Resistance on 03/01/2019
    • Resistance on 03/04/2019
    • Resistance on 03/06/2019
    • Resistance on 03/07/2019
    • Resistance on 03/12/2019
    • Resistance on 03/19/2019
    • Resistance on 03/20/2019
    • Resistance on 03/27/2019
    • Support on 05/06/2019
    • Resistance on 05/13/2019
  • Ending of entry zone (1.8880)
    • Resistance on 12/08/2014
    • Support on 12/11/2014
    • Resistance on 01/06/2015
    • Support on 03/09/2016
    • Support on 03/10/2016
    • Support on 03/18/2016
    • Support on 03/21/2016
    • Resistance on 03/30/2016
    • Resistance on 04/05/2016
    • Resistance on 04/26/2016
    • Resistance on 03/14/2019
    • Resistance on 05/06/2019

DateMay 25, 2019 - 20:21
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.88800, beginning of downtrend is expected.
  • We make sure when the support at 1.81100 breaks.
  • If the resistance at 1.88800 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.8875 on 05/06/2019, so more losses minimum to Major Support (1.8110) 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. 1.8510
  2. 1.8370
  3. 1.8110
  4. 1.7650
  5. 1.7285
  6. 1.6860
  7. 1.5790
Click on the level to view price action history.