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

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Trade Setup

#NZDUSD
Total Profit: 4166 pip
Closed trade(s): 764 pip Profit
Open trade(s): 3402 pip Profit
_______________________________________________
Trade Setup:
We opened 13 SELL trade(s) @ 0.7301 based on 'Shooting Star' entry method at 2017.02.07.

Closed Profit:
TP1 @ 0.7260 touched at 2017.02.08 with 41 pip Profit.
TP2 @ 0.7175 touched at 2017.02.09 with 126 pip Profit.
TP3 @ 0.7055 touched at 2017.03.02 with 246 pip Profit.
TP4 @ 0.6950 touched at 2017.03.08 with 351 pip Profit.
41 + 126 + 246 + 351 = 764 pip

Open Profit:
Profit for one trade is 0.7301(open price) - 0.6923(current price) = 378 pip
9 trade(s) still open, therefore total profit for open trade(s) is 378 x 9 = 3402 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.7310 to 0.7485). 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 (0.7310)
    • Resistance on 02/08/2017
    • Resistance on 02/02/2017
    • Resistance on 02/01/2017
    • Resistance on 01/26/2017
    • Resistance on 01/25/2017
    • Resistance on 11/10/2016
    • Support on 11/08/2016
    • Resistance on 11/02/2016
    • Resistance on 10/04/2016
    • Support on 09/22/2016
    • Support on 09/21/2016
    • Support on 09/12/2016
    • Support on 09/09/2016
    • Resistance on 09/05/2016
    • Resistance on 09/02/2016
    • Resistance on 08/26/2016
    • Resistance on 08/25/2016
    • Resistance on 08/23/2016
    • Resistance on 08/18/2016
    • Resistance on 08/17/2016
    • Resistance on 08/16/2016
    • Resistance on 08/11/2016
    • Resistance on 07/13/2016
    • Resistance on 07/12/2016
    • Resistance on 07/11/2016
    • Resistance on 07/08/2016
    • Resistance on 06/24/2016
    • Resistance on 05/26/2015
    • Support on 05/22/2015
    • Support on 05/13/2015
    • Support on 03/18/2015
    • Support on 03/17/2015
    • Support on 03/16/2015
    • Support on 03/15/2015
    • Support on 03/13/2015
    • Resistance on 03/11/2015
    • Support on 02/12/2015
    • Trough on 11/13/2009
    • Trough on 11/12/2009
    • Peak on 09/24/2009
    • Peak on 09/23/2009
  • Ending of entry zone (0.7485)
    • Resistance on 09/08/2016
    • Peak on 09/07/2016
    • Resistance on 09/07/2016
    • Resistance on 05/13/2015
    • Peak on 05/11/2015
    • Resistance on 05/11/2015
    • Support on 05/06/2015
    • Support on 05/05/2015
    • Support on 04/15/2015
    • Support on 04/08/2015
    • Support on 04/07/2015
    • Resistance on 04/01/2015
    • Support on 03/30/2015
    • Resistance on 03/19/2015
    • Resistance on 03/18/2015
    • Resistance on 03/06/2015
    • Support on 03/05/2015
    • Support on 02/25/2015
    • Support on 02/24/2015
    • Support on 02/23/2015
    • Support on 02/17/2015
    • Resistance on 02/12/2015
    • Resistance on 01/28/2015
    • Support on 01/22/2015
    • Support on 06/01/2012
    • Support on 05/24/2012
    • Support on 05/23/2012
    • Support on 12/15/2011
    • Trough on 07/09/2008
    • Trough on 07/08/2008

DateMay 6, 2017 - 11:24
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of downtrend.

Technical analysis:

  • A trough is formed in daily chart at 0.6840 on 05/04/2017, so more gains to resistance(s) 0.6950, 0.7055, 0.7175 and maximum to Trend Hunter Sell Zone (0.7310 to 0.7485) 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 46.

Take Profits:

  1. 0.7260
  2. 0.7175
  3. 0.7055
  4. 0.6950
  5. 0.6820
  6. 0.6710
  7. 0.6620
  8. 0.6430
  9. 0.6245
  10. 0.5930
  11. 0.5485
  12. 0.4900
Click on the level to view price action history.