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

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Trade Setup
#NZDSGD
Total Profit: 563 pip
Closed trade(s): 563 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 9 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.
TP4 @ 0.8965 touched at 2019.12.13 with 262 pip Profit.
17 + 102 + 182 + 262 = 563 pip

5 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.8620 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 (0.8620)
    • Support on 09/25/2019
    • Support on 09/30/2019
    • Support on 10/01/2019
    • Support on 10/02/2019
    • Support on 10/28/2019
    • Support on 10/30/2019
    • Support on 11/07/2019
  • Ending of entry zone (0.8565)
    • Support on 09/23/2019
    • Support on 10/15/2019
    • Support on 10/16/2019
DateFebruary 29, 2020 - 20:49
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.88050 would begin in Midterm.

Technical analysis:

  • A peak is formed in daily chart at 0.8975 on 02/12/2020, so more losses minimum to Trend Hunter Buy Zone (0.8620 to 0.8565) 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. 0.8720
  2. 0.8805
  3. 0.8885
  4. 0.8965
  5. 0.9070
  6. 0.9205
  7. 0.9340
  8. 0.9480
  9. 0.9710
Click on the level to view price action history.
Symbol Released Current Forecast
New Zealand Dollar / Singapore Dollar (NZDSGD) Sun, 14 Apr 2024
New Zealand Dollar / Singapore Dollar (NZDSGD) Sun, 7 Apr 2024
New Zealand Dollar / Singapore Dollar (NZDSGD) Sun, 31 Mar 2024
New Zealand Dollar / Singapore Dollar (NZDSGD) Sun, 24 Mar 2024
New Zealand Dollar / Singapore Dollar (NZDSGD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on NZDSGD.