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Weekly forecast British Pound / New Zealand Dollar technical chart

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Trade Setup
Total Profit: 140 pip
Closed trade(s): 0 pip Profit
Open trade(s): 140 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.9216 based on 'Two-day reversal candle Hammer' at 2020.09.21 signaled by DTO:

Open Profit:
Profit for one trade is 1.9236(current price) - 1.9216(open price) = 20 pip
7 trade(s) still open, therefore total profit for open trade(s) is 20 x 7 = 140 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.

DateSeptember 21, 2020 - 22:13
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1.9000, beginning of uptrend is expected.
  • We make sure when the resistance at 2.0255 breaks.
  • If the support at 1.9000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.9090 on 09/11/2020, so more gains to resistance(s) 1.9300, 1.9465, 1.9780 and maximum to Major Resistance (2.0255) 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 38.

Take Profits:

  1. 1.9300
  2. 1.9465
  3. 1.9780
  4. 2.0000
  5. 2.0255
  6. 2.1035
Click on the level to view price action history.