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

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Trade Setup
#NZDSGD
Total Profit: -1183 pip
Closed trade(s): 65 pip Profit
Open trade(s): -1248 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 0.9420 based on 'shootingstar' entry method at 2021.03.11.

Closed Profit:
TP1 @ 0.9355 touched at 2021.03.24 with 65 pip Profit.

Open Profit:
Profit for one trade is 0.9420(open price) - 0.9628(current price) = -208 pip
6 trade(s) still open, therefore total profit for open trade(s) is -208 x 6 = -1248 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateMay 8, 2021 - 13:55
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 0.98150, resumption of downtrend is expected.
  • We make sure when the support at 0.93450 breaks.
  • If the resistance at 0.98150 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 58 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 0.9477 on 05/03/2021, so more gains to resistance(s) 0.9725 and maximum to Major Resistance (0.9815) 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 59.

Take Profits:

  1. 0.9355
  2. 0.9250
  3. 0.9175
  4. 0.9070
  5. 0.8980
  6. 0.8885
Click on the level to view price action history.