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

#GBPNZD
Total Profit: 2811 pip
Closed trade(s): 2196 pip Profit
Open trade(s): 615 pip Profit

Trade Setup:
We opened 7 BUY trades @ 1.93991 based on 'Valley' entry method at 2022-09-29.

Closed Profit:
TP1 @ 1.96317 touched at 2022-09-30 with 233 pip Profit.
TP2 @ 1.98427 touched at 2022-09-30 with 444 pip Profit.
TP3 @ 2.00520 touched at 2022-10-13 with 653 pip Profit.
TP4 @ 2.02650 touched at 2022-10-13 with 866 pip Profit.
233 + 444 + 653 + 866 = 2196 pip

Open Profit:
Profit for one BUY trade is 1.96041(current price) - 1.93991(open price) = 205 pip
3 trade(s) still open, therefore total profit for open trade(s) is 205 x 3 = 615 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.
DateOctober 22, 2022 - 18:30
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.87030, resumption of uptrend is expected.
  • We make sure when the resistance at 2.05278 breaks.
  • If the support at 1.87030 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 2.03155 on 10/17/2022, so more losses to support(s) 1.94385, 1.91514, 1.88500 and minimum to Major Support (1.87030) 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 50.

Take Profits:

  1. 1.96308
  2. 1.98427
  3. 2.00520
  4. 2.02216
  5. 2.05278
  6. 2.10300
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.