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

#NZDUSD
Total Profit: 3887 pip
Closed trade(s): 3887 pip Profit

Trade Setup:
We opened 15 BUY trades @ 0.59362 based on 'Hammer' entry method at 2024-08-05, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 0.59858 touched at 2024-08-07 with 50 pip Profit.
TP2 @ 0.60387 touched at 2024-08-13 with 103 pip Profit.
TP3 @ 0.60827 touched at 2024-08-19 with 147 pip Profit.
TP4 @ 0.61518 touched at 2024-08-20 with 216 pip Profit.
TP5 @ 0.62218 touched at 2024-08-23 with 286 pip Profit.
TP6 @ 0.62759 touched at 2024-08-29 with 340 pip Profit.
TP7 @ 0.63301 touched at 2024-09-24 with 394 pip Profit.
TP8 @ 0.63687 touched at 2024-09-30 with 433 pip Profit.
7 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 274 x 7 = 1918 pip
50 + 103 + 147 + 216 + 286 + 340 + 394 + 433 = 3887 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.62530 to 0.62759). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.62530)
  • Ending of entry zone (0.62759)
DateOctober 6, 2024 - 19:56
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.63680, beginning of downtrend is expected.
  • We make sure when the support at 0.61050 breaks.
  • If the resistance at 0.63680 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A trough is formed in daily chart at 0.61050 on 09/11/2024, so more gains to resistance(s) 0.62218, 0.62530, 0.62759 and maximum to Major Resistance (0.63680) 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 43.

Take Profits:

  1. 0.62218
  2. 0.61518
  3. 0.61050
  4. 0.60387
  5. 0.59858
  6. 0.58502
  7. 0.57937
Click on the level to view price action history.
Symbol Released Current Forecast
New Zealand Dollar / US Dollar (NZDUSD) new Sun, 1 Dec 2024
New Zealand Dollar / US Dollar (NZDUSD) Wed, 27 Nov 2024
New Zealand Dollar / US Dollar (NZDUSD) Sat, 23 Nov 2024
New Zealand Dollar / US Dollar (NZDUSD) Sun, 17 Nov 2024
New Zealand Dollar / US Dollar (NZDUSD) Sat, 9 Nov 2024
History
Daily-Trading-Opportunities on NZDUSD.