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Weekly forecast British Pound / New Zealand Dollar technical chart
Symbol GBPNZD

Download MT4 template file

Trade Setup
#GBPNZD
Total Profit: 5401 pip
Closed trade(s): 1985 pip Profit
Open trade(s): 3416 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 1.9459 (day close price) based on 'Shooting star' at 2019.04.25 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.9435 touched at 2019.04.26 with 24 pip Profit.
TP2 @ 1.9245 touched at 2019.06.03 with 214 pip Profit.
TP3 @ 1.9095 touched at 2019.06.07 with 364 pip Profit.
TP4 @ 1.8930 touched at 2019.06.27 with 529 pip Profit.
TP5 @ 1.8605 touched at 2019.07.16 with 854 pip Profit.
24 + 214 + 364 + 529 + 854 = 1985 pip

Open Profit:
Profit for one trade is 1.9459(open price) - 1.8605(current price) = 854 pip
4 trade(s) still open, therefore total profit for open trade(s) is 854 x 4 = 3416 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 1.89300 is broken, we will close open trades.
DateAugust 3, 2019 - 22:40
Currentdowntrend
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.81200, beginning of uptrend is expected.
  • We make sure when the resistance at 1.89300 breaks.
  • If the support at 1.81200 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.89300 is broken.

Technical analysis:

  • While the RSI resistance #1 at 52 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.8275 on 07/29/2019, so more gains to resistance(s) 1.8605, 1.8705 and maximum to Major Resistance (1.8930) 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 46.

Take Profits:

  1. 1.9435
  2. 1.9245
  3. 1.9095
  4. 1.8930
  5. 1.8605
  6. 1.8120
  7. 1.7440
  8. 1.6705
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / New Zealand Dollar (GBPNZD) Sun, 14 Apr 2024
British Pound / New Zealand Dollar (GBPNZD) Sat, 6 Apr 2024
British Pound / New Zealand Dollar (GBPNZD) Mon, 1 Apr 2024
British Pound / New Zealand Dollar (GBPNZD) Sat, 30 Mar 2024
British Pound / New Zealand Dollar (GBPNZD) Sun, 24 Mar 2024
History
Daily-Trading-Opportunities on GBPNZD.