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

#NZDUSD
Total Profit: 5419 pip
Closed trade(s): 2323 pip Profit
Open trade(s): 3096 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 0.62726(current price) - 0.57569(open price) = 516 pip
6 trade(s) still open, therefore total profit for open trade(s) is 516 x 6 = 3096 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
DateMay 21, 2023 - 09:47
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.65715, beginning of downtrend is expected.
  • We make sure when the support at 0.60553 breaks.
  • If the resistance at 0.65715 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.60553 is broken.

Technical analysis:

  • A peak is formed in daily chart at 0.63835 on 05/11/2023, so more losses to support(s) 0.62330, 0.61631 and minimum to Major Support (0.60553) 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 54.

Supports and Resistances:

  1. 0.74650
  2. 0.72150
  3. 0.70330
  4. 0.68105
  5. 0.65715
  6. 0.64587
  7. 0.63078
  8. 0.61631
  9. 0.60553
  10. 0.59981
  11. 0.58874
Click on the level to view price action history.
Symbol Released Current Forecast
New Zealand Dollar / US Dollar (NZDUSD) Sun, 14 Apr 2024
New Zealand Dollar / US Dollar (NZDUSD) Sun, 14 Apr 2024
New Zealand Dollar / US Dollar (NZDUSD) Sat, 6 Apr 2024
New Zealand Dollar / US Dollar (NZDUSD) Sat, 30 Mar 2024
New Zealand Dollar / US Dollar (NZDUSD) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on NZDUSD.