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

Download MT4 template file

Trade Setup
#GBPNZD
Total Profit: 2857 pip
Closed trade(s): 2857 pip Profit
Open trade(s): 0 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

Closed Profit:
Profit for one trade is 1.9459(open price) - 1.9241(current price) = 218 pip
4 trade(s) closed at market price as the major resistance is broken, therefore total profit will increase by 218 x 4 = 872 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.9835 to 2.0000). 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 (1.9835)
    • Support on 01/03/2011
    • Resistance on 08/12/2011
    • Resistance on 08/15/2011
    • Resistance on 08/16/2011
    • Resistance on 08/17/2011
    • Support on 10/06/2011
    • Resistance on 10/14/2011
    • Support on 11/01/2011
    • Support on 01/02/2012
    • Resistance on 04/23/2012
    • Resistance on 04/30/2012
    • Support on 06/14/2012
    • Support on 06/15/2012
    • Resistance on 06/19/2012
    • Resistance on 06/20/2012
    • Resistance on 06/21/2012
    • Resistance on 06/22/2012
    • Resistance on 06/25/2012
    • Resistance on 07/25/2012
    • Resistance on 08/30/2012
    • Resistance on 08/31/2012
    • Support on 09/06/2012
    • Resistance on 10/16/2012
    • Resistance on 06/10/2013
    • Resistance on 06/13/2013
    • Support on 06/21/2013
    • Support on 06/25/2013
    • Support on 09/03/2013
    • Resistance on 11/22/2013
    • Resistance on 11/25/2013
    • Resistance on 11/26/2013
    • Support on 12/03/2013
    • Support on 12/05/2013
    • Resistance on 12/09/2013
    • Resistance on 12/10/2013
    • Resistance on 12/11/2013
    • Resistance on 12/12/2013
    • Resistance on 12/13/2013
    • Support on 01/10/2014
    • Resistance on 02/11/2014
    • Support on 02/28/2014
    • Support on 03/04/2014
    • Support on 03/05/2014
    • Resistance on 06/02/2014
    • Resistance on 06/06/2014
    • Resistance on 07/24/2014
    • Support on 08/06/2014
    • Support on 08/07/2014
    • Support on 08/12/2014
    • Resistance on 08/19/2014
    • Resistance on 08/20/2014
    • Resistance on 08/21/2014
    • Resistance on 09/02/2014
    • Resistance on 09/03/2014
    • Support on 09/12/2014
    • Support on 09/15/2014
    • Support on 09/16/2014
    • Support on 09/17/2014
    • Support on 11/21/2014
    • Support on 12/30/2014
    • Support on 12/31/2014
    • Resistance on 01/20/2015
    • Support on 03/18/2015
    • Resistance on 03/31/2015
    • Resistance on 04/07/2015
    • Resistance on 04/23/2015
    • Support on 04/29/2015
    • Peak on 12/01/2017
    • Resistance on 12/01/2017
    • Support on 09/19/2018
    • Resistance on 09/21/2018
    • Resistance on 09/25/2018
    • Resistance on 09/26/2018
    • Resistance on 09/27/2018
    • Resistance on 10/01/2018
    • Resistance on 10/24/2018
    • Resistance on 10/25/2018
    • Resistance on 10/26/2018
    • Resistance on 05/03/2019
    • Resistance on 05/07/2019
    • Resistance on 05/08/2019
  • Ending of entry zone (2.0000)
    • Resistance on 09/10/2018
    • Resistance on 09/11/2018
    • Resistance on 09/12/2018
    • Resistance on 09/17/2018
    • Resistance on 09/18/2018
    • Resistance on 09/19/2018
    • Support on 10/16/2018
    • Support on 10/17/2018
    • Resistance on 10/18/2018
    • Resistance on 05/08/2019

DateAugust 24, 2019 - 19:59
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.89300, beginning of uptrend is expected.
  • We make sure when the resistance at 2.04700 breaks.
  • If the support at 1.89300 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI resistance #1 at 53 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.8275 on 07/29/2019, so more gains to resistance(s) 1.9245, 1.9435, 1.9640 and maximum to Major Resistance (2.0470) 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 68.

Take Profits:

  1. 1.9640
  2. 1.9435
  3. 1.9245
  4. 1.9095
  5. 1.8930
  6. 1.8605
  7. 1.8275
  8. 1.8120
Click on the level to view price action history.