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

Total Profit: 61 pip
Closed trade(s): 61 pip Profit

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

Closed Profit:
TP1 @ 0.84463 touched at 2023-05-19 with 61 pip Profit.
8 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.81525 to 0.80716). 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 (0.81525)
  • Ending of entry zone (0.80716)

DateMay 28, 2023 - 21:33
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.80716, beginning of uptrend is expected.
  • We make sure when the resistance at 0.84463 breaks.
  • If the support at 0.80716 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.84635 on 05/23/2023, so more losses to support(s) 0.81525 and minimum to Major Support (0.80716) 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 37.

Take Profits:

  1. 0.82622
  2. 0.83351
  3. 0.84463
  4. 0.85184
  5. 0.85971
  6. 0.86881
  7. 0.88291
  8. 0.89824
  9. 0.92729
  10. 0.94691
Click on the level to view price action history.