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

Download MT4 template file

Trade Setup

#GBPNZD
Total Profit: 3541 pip
Closed trade(s): 1175 pip Profit
Open trade(s): 2366 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 1.9440 (day close price) based on 'Peak' at 2018.04.27 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.9350 touched at 2018.05.03 with 90 pip Profit.
TP2 @ 1.9210 touched at 2018.05.25 with 230 pip Profit.
TP3 @ 1.9095 touched at 2018.05.29 with 345 pip Profit.
TP4 @ 1.8930 touched at 2018.05.31 with 510 pip Profit.
90 + 230 + 345 + 510 = 1175 pip

Open Profit:
Profit for one trade is 1.9440(open price) - 1.9102(current price) = 338 pip
7 trade(s) still open, therefore total profit for open trade(s) is 338 x 7 = 2366 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJune 2, 2018 - 22:14
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.97550 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
  • The RSI support #1 at 45 is broken, so the probability of continuation of downtrend is increased.
  • The RSI bounced from the uptrend #2 and it prevented price from more losses.
  • A trough is formed in daily chart at 1.8920 on 06/01/2018, so more gains to resistance(s) 1.9210, 1.9350, 1.9640 and maximum to Trend Hunter Sell Zone (1.9640 to 1.9835) 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 40.

Take Profits:

  1. 1.9350
  2. 1.9210
  3. 1.9095
  4. 1.8930
  5. 1.8785
  6. 1.8640
  7. 1.8270
  8. 1.7900
  9. 1.7440
  10. 1.6705
Click on the level to view price action history.