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

#NZDSGD
Total Profit: -1314 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1314 pip Profit

Trade Setup:
We opened 9 BUY trades @ 0.83854 based on 'Valley' entry method at 2023-03-17.

Open Profit:
Profit for one BUY trade is 0.82387(current price) - 0.83854(open price) = -146 pip
9 trade(s) still open, therefore total profit for open trade(s) is -146 x 9 = -1314 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.

DateApril 30, 2023 - 12:36
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.80983, beginning of uptrend is expected.
  • We make sure when the resistance at 0.86881 breaks.
  • If the support at 0.80983 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.81500 on 04/27/2023, so more gains to resistance(s) 0.82622, 0.83351, 0.84463 and maximum to Major Resistance (0.86881) 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. 0.84463
  2. 0.85184
  3. 0.85971
  4. 0.86881
  5. 0.88291
  6. 0.89824
  7. 0.92729
  8. 0.94691
Click on the level to view price action history.