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

#GBPNZD
Total Profit: 5858 pip
Closed trade(s): 2759 pip Profit
Open trade(s): 3099 pip Profit

Trade Setup:
We opened 9 BUY trades @ 1.93439 based on 'Valley' entry method at 2023-03-03.

Closed Profit:
TP1 @ 1.94385 touched at 2023-03-06 with 95 pip Profit.
TP2 @ 1.95581 touched at 2023-03-10 with 214 pip Profit.
TP3 @ 1.96688 touched at 2023-03-21 with 325 pip Profit.
TP4 @ 1.98427 touched at 2023-03-27 with 499 pip Profit.
TP5 @ 2.00012 touched at 2023-04-11 with 657 pip Profit.
TP6 @ 2.03127 touched at 2023-04-26 with 969 pip Profit.
95 + 214 + 325 + 499 + 657 + 969 = 2759 pip

Open Profit:
Profit for one BUY trade is 2.03769(current price) - 1.93439(open price) = 1033 pip
3 trade(s) still open, therefore total profit for open trade(s) is 1033 x 3 = 3099 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 1.97388 is broken, we will close open trades.
DateMay 28, 2023 - 21:13
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.97388, resumption of uptrend is expected.
  • We make sure when the resistance at 2.05278 breaks.
  • If the support at 1.97388 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.97388 is broken.

Technical analysis:

  • A trough is formed in daily chart at 1.97435 on 05/23/2023, so more gains maximum to Major Resistance (2.05278) 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 63.

Take Profits:

  1. 1.94385
  2. 1.95581
  3. 1.96688
  4. 1.98459
  5. 2.00030
  6. 2.03127
  7. 2.05278
  8. 2.10300
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / New Zealand Dollar (GBPNZD) Sun, 17 Sep 2023
British Pound / New Zealand Dollar (GBPNZD) free Sun, 10 Sep 2023
British Pound / New Zealand Dollar (GBPNZD) Sun, 3 Sep 2023
British Pound / New Zealand Dollar (GBPNZD) free Sun, 27 Aug 2023
British Pound / New Zealand Dollar (GBPNZD) Sun, 20 Aug 2023
History
Daily-Trading-Opportunities on GBPNZD.