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Weekly forecast New Zealand Dollar / Singapore Dollar technical chart

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Trade Setup
Total Profit: 355 pip
Closed trade(s): 43 pip Profit
Open trade(s): 312 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 0.9012 (day close price) based on 'Valley' at 2020.10.09.

Closed Profit:
TP1 @ 0.9055 touched at 2020.10.22 with 43 pip Profit.

Open Profit:
Profit for one trade is 0.9064(current price) - 0.9012(open price) = 52 pip
6 trade(s) still open, therefore total profit for open trade(s) is 52 x 6 = 312 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.

DateOctober 24, 2020 - 21:50
Currentrange bound
Forecastresumption of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 0.8880, resumption of uptrend is expected.
  • We make sure when the resistance at 0.9240 breaks.
  • If the support at 0.8880 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.8885 on 10/20/2020, so more gains to resistance(s) 0.9150 and maximum to Major Resistance (0.9240) 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 56.

Take Profits:

  1. 0.9055
  2. 0.9150
  3. 0.9240
  4. 0.9340
  5. 0.9480
  6. 0.9710
Click on the level to view price action history.