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

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Trade Setup

#NZDSGD
Total Profit: -512 pip
Closed trade(s): 0 pip Profit
Open trade(s): -512 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 0.9462 based on 'Peak' entry method at 2021.08.09.

Open Profit:
Profit for one trade is 0.9462(open price) - 0.9526(current price) = -64 pip
8 trade(s) still open, therefore total profit for open trade(s) is -64 x 8 = -512 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.

DateAugust 14, 2021 - 08:17
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.96700, beginning of downtrend is expected.
  • We make sure when the support at 0.92750 breaks.
  • If the resistance at 0.96700 is broken, the short-term forecast -beginning 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 peak is formed in daily chart at 0.9540 on 08/05/2021, so more losses to support(s) 0.9525, 0.9495, 0.9430 and minimum to Major Support (0.9275) 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. 0.9430
  2. 0.9355
  3. 0.9275
  4. 0.9175
  5. 0.9070
  6. 0.8980
  7. 0.8885
Click on the level to view price action history.