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

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Trade Setup

#NZDUSD
Total Profit: 456 pip
Closed trade(s): 0 pip Profit
Open trade(s): 456 pip Profit
_______________________________________________
Trade Setup:
We opened 12 SELL trade(s) @ 0.7334 (day close price) based on 'Peak' at 2018.01.24 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Open Profit:
Profit for one trade is 0.7334(open price) - 0.7296(current price) = 38 pip
12 trade(s) still open, therefore total profit for open trade(s) is 38 x 12 = 456 pip
_______________________________________________

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateFebruary 3, 2018 - 11:01
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 peak is formed in daily chart at 0.7435 on 01/24/2018, so more losses to support(s) 0.7240, 0.7175, 0.7055 and more depths 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 56.

Take Profits:

  1. 0.7240
  2. 0.7175
  3. 0.7055
  4. 0.6950
  5. 0.6820
  6. 0.6620
  7. 0.6430
  8. 0.6245
  9. 0.5930
  10. 0.5485
  11. 0.4900
Click on the level to view price action history.