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

Download MT4 template file

Trade Setup

#GBPNZD
Total Profit: 8537 pip
Closed trade(s): 3685 pip Profit
Open trade(s): 4852 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 1.9740 (day close price) based on 'Two-day reversal candle (Shooting Star)' at 2018.10.24 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.9640 touched at 2018.10.25 with 100 pip Profit.
TP2 @ 1.9545 touched at 2018.10.30 with 195 pip Profit.
TP3 @ 1.9435 touched at 2018.10.30 with 305 pip Profit.
TP4 @ 1.9245 touched at 2018.11.09 with 495 pip Profit.
TP5 @ 1.9095 touched at 2018.11.12 with 645 pip Profit.
TP6 @ 1.8930 touched at 2018.11.15 with 810 pip Profit.
TP7 @ 1.8605 touched at 2018.11.29 with 1135 pip Profit.
100 + 195 + 305 + 495 + 645 + 810 + 1135 = 3685 pip

Open Profit:
Profit for one trade is 1.9740(open price) - 1.8527(current price) = 1213 pip
4 trade(s) still open, therefore total profit for open trade(s) is 1213 x 4 = 4852 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.
  • If the Midterm level 1.92450 is broken, we will close open trades.
DateDecember 1, 2018 - 13:56
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.92450 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 1.92450 is broken.

Technical analysis:

  • While the RSI resistance #1 at 49 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.8985 on 11/22/2018, so more losses to support(s) 1.7900, 1.7440, 1.6705 and more depths 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 28.

Take Profits:

  1. 1.9640
  2. 1.9545
  3. 1.9435
  4. 1.9245
  5. 1.9095
  6. 1.8930
  7. 1.8605
  8. 1.7900
  9. 1.7440
  10. 1.6705
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.