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

#GBPNZD
Total Profit: 2274 pip
Closed trade(s): 1194 pip Profit
Open trade(s): 1080 pip Profit

Trade Setup:
We opened 7 BUY trades @ 2.11433 based on 'Valley' entry method at 2024-10-01, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 2.11991 touched at 2024-10-03 with 56 pip Profit.
TP2 @ 2.13502 touched at 2024-10-07 with 207 pip Profit.
TP3 @ 2.14970 touched at 2024-10-09 with 354 pip Profit.
TP4 @ 2.17200 touched at 2024-10-28 with 577 pip Profit.
56 + 207 + 354 + 577 = 1194 pip

Open Profit:
Profit for one BUY trade is 2.15029(current price) - 2.11433(open price) = 360 pip
3 trade(s) still open, therefore total profit for open trade(s) is 360 x 3 = 1080 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.
DateDecember 2, 2024 - 20:14
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 2.09770, resumption of uptrend is expected.
  • We make sure when the resistance at 2.19041 breaks.
  • If the support at 2.09770 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 2.09995 on 09/30/2024, so more gains to resistance(s) 2.17200 and maximum to Major Resistance (2.19041) 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 49.

Take Profits:

  1. 2.11991
  2. 2.13502
  3. 2.14970
  4. 2.17200
  5. 2.19041
  6. 2.21010
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / New Zealand Dollar (GBPNZD) free Sun, 12 Jan 2025
British Pound / New Zealand Dollar (GBPNZD) free Sat, 4 Jan 2025
British Pound / New Zealand Dollar (GBPNZD) free Sat, 28 Dec 2024
British Pound / New Zealand Dollar (GBPNZD) free Mon, 23 Dec 2024
British Pound / New Zealand Dollar (GBPNZD) free Sun, 15 Dec 2024
History
Daily-Trading-Opportunities on GBPNZD.