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

#NZDSGD
Total Profit: 247 pip
Closed trade(s): 247 pip Profit

Trade Setup:
We opened 6 BUY trades @ 0.86513 based on 'Hammer' entry method at 2022-07-01.

Closed Profit:
TP1 @ 0.87200 touched at 2022-07-22 with 69 pip Profit.
TP2 @ 0.88291 touched at 2022-08-12 with 178 pip Profit.
4 other break-even trades closed at entry price, therefore no profit no loss.
69 + 178 = 247 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.85439 to 0.84983). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.85439)
  • Ending of entry zone (0.84983)

DateAugust 21, 2022 - 11:13
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.84983, beginning of uptrend is expected.
  • We make sure when the resistance at 0.91165 breaks.
  • If the support at 0.84983 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.88420 on 08/12/2022, so more losses to support(s) 0.85439 and minimum to Major Support (0.84983) 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 40.

Take Profits:

  1. 0.86362
  2. 0.87200
  3. 0.88291
  4. 0.90101
  5. 0.92729
  6. 0.94691
Click on the level to view price action history.