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

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Trade Setup
#NZDSGD
Total Profit: 2103 pip
Closed trade(s): 1205 pip Profit
Open trade(s): 898 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.
TP2 @ 0.9150 touched at 2020.11.06 with 138 pip Profit.
TP3 @ 0.9240 touched at 2020.11.11 with 228 pip Profit.
TP4 @ 0.9340 touched at 2020.11.24 with 328 pip Profit.
TP5 @ 0.9480 touched at 2020.12.17 with 468 pip Profit.
43 + 138 + 228 + 328 + 468 = 1205 pip

Open Profit:
Profit for one trade is 0.9461(current price) - 0.9012(open price) = 449 pip
2 trade(s) still open, therefore total profit for open trade(s) is 449 x 2 = 898 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 0.9340 is broken, we will close open trades.

DateJanuary 16, 2021 - 19:44
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • 0.9340 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 0.9340 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.94675 on 2020-12-02 and the peak at 0.9617 on 2021-01-06, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 0.9620 on 01/06/2021, so more losses minimum to Major Support (0.9340) 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 49.

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.