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

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Trade Setup

#NZDSGD
Total Profit: 1201 pip
Closed trade(s): 326 pip Profit
Open trade(s): 875 pip Profit

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

Closed Profit:
TP1 @ 0.9430 touched at 2021.08.17 with 32 pip Profit.
TP2 @ 0.9355 touched at 2021.08.18 with 107 pip Profit.
TP3 @ 0.9275 touched at 2021.08.20 with 187 pip Profit.
32 + 107 + 187 = 326 pip

Open Profit:
Profit for one trade is 0.9462(open price) - 0.9287(current price) = 175 pip
5 trade(s) still open, therefore total profit for open trade(s) is 175 x 5 = 875 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 21, 2021 - 08:42
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.95250, beginning of downtrend is expected.
  • We make sure when the support at 0.92750 breaks.
  • If the resistance at 0.95250 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 minimum to Major Support (0.9275) 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 34.

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.
Symbol Released Current Forecast
New Zealand Dollar / Singapore Dollar (NZDSGD) Sun, 14 Apr 2024
New Zealand Dollar / Singapore Dollar (NZDSGD) Sun, 7 Apr 2024
New Zealand Dollar / Singapore Dollar (NZDSGD) Sun, 31 Mar 2024
New Zealand Dollar / Singapore Dollar (NZDSGD) Sun, 24 Mar 2024
New Zealand Dollar / Singapore Dollar (NZDSGD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on NZDSGD.