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

Download MT4 template file

Trade Setup
#GBPNZD
Total Profit: 3854 pip
Closed trade(s): 2075 pip Profit
Open trade(s): 1779 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.9412 (day close price) based on 'Valley' at 2020.07.28 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.9465 touched at 2020.07.29 with 53 pip Profit.
TP2 @ 1.9635 touched at 2020.07.30 with 223 pip Profit.
TP3 @ 1.9780 touched at 2020.08.03 with 368 pip Profit.
TP4 @ 2.0000 touched at 2020.08.14 with 588 pip Profit.
TP5 @ 2.0255 touched at 2020.08.20 with 843 pip Profit.
53 + 223 + 368 + 588 + 843 = 2075 pip

Open Profit:
Profit for one trade is 2.0005(current price) - 1.9412(open price) = 593 pip
3 trade(s) still open, therefore total profit for open trade(s) is 593 x 3 = 1779 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.96350 is broken, we will close open trades.
DateAugust 22, 2020 - 19:49
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1.96350 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 1.96350 is broken.

Technical analysis:

  • The RSI resistance #1 at 50 is broken, so the probability of continuation of uptrend is increased.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1.8997 on 07/22/2020, so more gains to resistance(s) 2.0255, 2.0765, 2.1035 and more heights 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 62.

Take Profits:

  1. 1.9465
  2. 1.9635
  3. 1.9780
  4. 2.0000
  5. 2.0255
  6. 2.0765
  7. 2.1035
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.