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

#NZDUSD
Total Profit: 4753 pip
Closed trade(s): 2323 pip Profit
Open trade(s): 2430 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.
TP5 @ 0.63078 touched at 2022-11-30 with 551 pip Profit.
TP6 @ 0.64569 touched at 2022-12-13 with 700 pip Profit.
130 + 241 + 299 + 402 + 551 + 700 = 2323 pip

Open Profit:
Profit for one BUY trade is 0.61624(current price) - 0.57569(open price) = 405 pip
6 trade(s) still open, therefore total profit for open trade(s) is 405 x 6 = 2430 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 0.60555 is broken, we will close open trades.

DateFebruary 25, 2023 - 20:05
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.60555, resumption of uptrend is expected.
  • We make sure when the resistance at 0.65715 breaks.
  • If the support at 0.60555 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.60555 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.65127 on 2022-12-13 and the peak at 0.65369 on 2023-02-02, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • A peak is formed in daily chart at 0.65370 on 02/02/2023, so more losses to support(s) 0.61582 and minimum to Major Support (0.60555) 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 32.

Take Profits:

  1. 0.58874
  2. 0.59981
  3. 0.60555
  4. 0.61582
  5. 0.63078
  6. 0.64569
  7. 0.65715
  8. 0.68105
  9. 0.70330
  10. 0.72150
  11. 0.74650
Click on the level to view price action history.