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

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Trade Setup
#NZDSGD
Total Profit: 1799 pip
Closed trade(s): 301 pip Profit
Open trade(s): 1498 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.8703 (day close price) based on 'Valley' at 2019.10.30.

Closed Profit:
TP1 @ 0.8720 touched at 2019.10.31 with 17 pip Profit.
TP2 @ 0.8805 touched at 2019.12.02 with 102 pip Profit.
TP3 @ 0.8885 touched at 2019.12.03 with 182 pip Profit.
17 + 102 + 182 = 301 pip

Open Profit:
Profit for one trade is 0.8917(current price) - 0.8703(open price) = 214 pip
7 trade(s) still open, therefore total profit for open trade(s) is 214 x 7 = 1498 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.
  • If the Midterm level 0.8720 is broken, we will close open trades.

DateDecember 7, 2019 - 20:38
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 0.8720, beginning of uptrend is expected.
  • We make sure when the resistance at 0.8965 breaks.
  • If the support at 0.8720 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.8720 is broken.

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.
  • A trough is formed in daily chart at 0.8585 on 11/08/2019, so more gains maximum to Major Resistance (0.8965) 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 74.

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.