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Weekly forecast New Zealand Dollar / Singapore Dollar technical chart

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Trade Setup
Total Profit: 621 pip
Closed trade(s): 33 pip Profit
Open trade(s): 588 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 0.8982 (day close price) based on 'Valley' at 2020.06.30.

Closed Profit:
TP1 @ 0.9015 touched at 2020.07.01 with 33 pip Profit.

Open Profit:
Profit for one trade is 0.9080(current price) - 0.8982(open price) = 98 pip
6 trade(s) still open, therefore total profit for open trade(s) is 98 x 6 = 588 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.

DateJuly 4, 2020 - 22:11
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 0.8435 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 0.9115 on 06/09/2020, so more losses to support(s) 0.9015, 0.8885, 0.8805 and minimum to Major Support (0.8435) 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 66.

Take Profits:

  1. 0.9015
  2. 0.9110
  3. 0.9205
  4. 0.9340
  5. 0.9480
  6. 0.9710
Click on the level to view price action history.