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Weekly forecast New Zealand Dollar / Singapore Dollar technical chart
Symbol NZDSGD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.8640 to 0.8565). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.8640)
    • Support on 09/24/2019
    • Support on 09/30/2019
    • Support on 10/03/2019
    • Support on 10/18/2019
  • Ending of entry zone (0.8565)
    • Support on 09/23/2019
    • Support on 10/15/2019
    • Support on 10/16/2019

DateOctober 23, 2019 - 11:22
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.85500, beginning of uptrend is expected.
  • We make sure when the resistance at 0.88850 breaks.
  • If the support at 0.85500 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.8565 on 2019-09-23 and the trough at 0.8552 on 2019-10-16, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.8550 on 10/16/2019, so more gains to resistance(s) 0.8805 and maximum to Major Resistance (0.8885) 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 54.

Take Profits:

  1. 0.8720
  2. 0.8805
  3. 0.8885
  4. 0.8965
  5. 0.9110
  6. 0.9205
  7. 0.9340
  8. 0.9480
  9. 0.9710
Click on the level to view price action history.