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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 (0.8885 to 0.8805). 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 (0.8885)
    • Support on 07/16/2015
    • Support on 07/17/2015
    • Support on 07/20/2015
    • Support on 08/24/2015
    • Support on 09/01/2015
    • Support on 09/10/2015
    • Support on 09/14/2015
    • Support on 09/18/2015
    • Support on 09/21/2015
    • Support on 09/22/2015
    • Support on 09/23/2015
    • Support on 10/05/2018
    • Support on 10/08/2018
    • Support on 10/10/2018
    • Support on 05/08/2019
    • Support on 06/19/2019
    • Support on 06/20/2019
    • Support on 06/21/2019
    • Support on 08/07/2019
    • Support on 08/08/2019
    • Support on 08/16/2019
    • Resistance on 09/06/2019
    • Resistance on 09/09/2019
    • Resistance on 09/10/2019
    • Resistance on 12/02/2019
    • Resistance on 12/03/2019
    • Support on 12/06/2019
    • Support on 12/09/2019
    • Support on 12/17/2019
    • Support on 12/18/2019
    • Support on 01/14/2020
    • Support on 01/15/2020
    • Support on 01/17/2020
    • Support on 01/20/2020
    • Support on 01/21/2020
    • Resistance on 01/30/2020
    • Resistance on 02/04/2020
    • Resistance on 02/11/2020
    • Resistance on 03/09/2020
    • Support on 06/03/2020
  • Ending of entry zone (0.8805)
    • Support on 09/17/2015
    • Support on 08/26/2019
    • Resistance on 08/29/2019
    • Resistance on 09/03/2019
    • Resistance on 09/04/2019
    • Resistance on 09/13/2019
    • Support on 01/31/2020
    • Support on 02/03/2020
    • Resistance on 02/28/2020
    • Resistance on 03/09/2020
    • Resistance on 03/10/2020
    • Resistance on 03/11/2020
    • Resistance on 05/26/2020
    • Resistance on 05/27/2020
    • Resistance on 05/28/2020
    • Support on 06/02/2020

DateAugust 8, 2020 - 19:53
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.92400, beginning of downtrend is expected.
  • We make sure when the support at 0.84350 breaks.
  • If the resistance at 0.92400 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.91155 on 2020-06-09 and the peak at 0.92385 on 2020-07-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 0.9235 on 07/22/2020, so more losses to support(s) 0.9015, 0.8885, 0.8805 and minimum to Major Support (0.8435) 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 45.

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.