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

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.79288 to 0.78891). 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 (0.79288)
  • Ending of entry zone (0.78891)

DateDecember 17, 2023 - 12:40
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.78891 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of continuation of uptrend is decreased.
  • A peak is formed in daily chart at 0.82745 on 12/04/2023, so more losses to support(s) 0.82355, 0.81161, 0.79684 and minimum to Major Support (0.78891) 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 64.

Take Profits:

  1. 0.81161
  2. 0.82355
  3. 0.83351
  4. 0.84764
  5. 0.85971
  6. 0.87220
  7. 0.88291
  8. 0.89824
  9. 0.92729
  10. 0.95191
Click on the level to view price action history.