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Weekly forecast New Zealand Dollar / US Dollar technical chart
Symbol NZDUSD

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Trade Setup
#NZDUSD
Total Profit: 760 pip
Closed trade(s): 760 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.6410 (day close price) based on 'Valley' at 2019.11.13 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Closed Profit:
TP1 @ 0.6425 touched at 2019.11.19 with 15 pip Profit.
TP2 @ 0.6500 touched at 2019.12.02 with 90 pip Profit.
TP3 @ 0.6565 touched at 2019.12.06 with 155 pip Profit.
TP4 @ 0.6635 touched at 2019.12.23 with 225 pip Profit.
TP5 @ 0.6685 touched at 2019.12.27 with 275 pip Profit.
15 + 90 + 155 + 225 + 275 = 760 pip

5 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateFebruary 8, 2020 - 22:17
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • While the price is below the resistance 0.65000, continuation of downtrend is expected.
  • We make sure when the support at 0.62050 breaks.
  • If the resistance at 0.65000 is broken, the short-term forecast -continuation of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.6625 on 01/24/2020, so more losses to support(s) 0.6270 and minimum to Major Support (0.6205) 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 25.

Supports and Resistances:

  1. 0.7435
  2. 0.7175
  3. 0.6940
  4. 0.6775
  5. 0.6685
  6. 0.6635
  7. 0.6565
  8. 0.6500
  9. 0.6425
  10. 0.5660
  11. 0.5485
  12. 0.4900
Click on the level to view price action history.