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

Download MT4 template file

Trade Setup
#GBPNZD
Total Profit: -2888 pip
Closed trade(s): 24 pip Profit
Open trade(s): -2912 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 1.9459 (day close price) based on 'Shooting star' at 2019.04.25 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.9435 touched at 2019.04.26 with 24 pip Profit.

Open Profit:
Profit for one trade is 1.9459(open price) - 1.9823(current price) = -364 pip
8 trade(s) still open, therefore total profit for open trade(s) is -364 x 8 = -2912 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.
DateMay 4, 2019 - 18:14
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 2.04700, resumption of downtrend is expected.
  • We make sure when the support at 1.90950 breaks.
  • If the resistance at 2.04700 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • The RSI downtrend #2 is broken, so the probability of resumption of downtrend is decreased.
  • A trough is formed in daily chart at 1.9040 on 03/29/2019, so more gains to resistance(s) 1.9835, 2.0000 and maximum to Major Resistance (2.0470) 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 68.

Take Profits:

  1. 1.9435
  2. 1.9245
  3. 1.9095
  4. 1.8930
  5. 1.8605
  6. 1.8120
  7. 1.7440
  8. 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.