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

#NZDUSD
Total Profit: 4192 pip
Closed trade(s): 1072 pip Profit
Open trade(s): 3120 pip Profit

Trade Setup:
We opened 12 BUY trades @ 0.57569 based on 'Hammer' entry method at 2022-10-21.

Closed Profit:
TP1 @ 0.58874 touched at 2022-11-01 with 130 pip Profit.
TP2 @ 0.59981 touched at 2022-11-08 with 241 pip Profit.
TP3 @ 0.60555 touched at 2022-11-11 with 299 pip Profit.
TP4 @ 0.61594 touched at 2022-11-15 with 402 pip Profit.
130 + 241 + 299 + 402 = 1072 pip

Open Profit:
Profit for one BUY trade is 0.61472(current price) - 0.57569(open price) = 390 pip
8 trade(s) still open, therefore total profit for open trade(s) is 390 x 8 = 3120 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.
  • If the Midterm level 0.58120 is broken, we will close open trades.

DateNovember 19, 2022 - 21:37
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.58120, beginning of uptrend is expected.
  • We make sure when the resistance at 0.64569 breaks.
  • If the support at 0.58120 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.58120 is broken.

Technical analysis:

  • While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 0.55105 on 10/13/2022, so more gains to resistance(s) 0.61594, 0.63078 and maximum to Major Resistance (0.64569) 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 68.

Take Profits:

  1. 0.58874
  2. 0.59981
  3. 0.60555
  4. 0.61594
  5. 0.63078
  6. 0.64569
  7. 0.65715
  8. 0.68025
  9. 0.70330
  10. 0.72150
  11. 0.74650
Click on the level to view price action history.