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

Download MT4 template file

Trade Setup

#NZDUSD
Total Profit: 3662 pip
Closed trade(s): 629 pip Profit
Open trade(s): 3033 pip Profit

Trade Setup:
We opened 13 SELL trade(s) @ 0.7351 (day close price) based on 'Two-day reversal candle (Shooting Star)' at 2018.04.13 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Closed Profit:
TP1 @ 0.7305 touched at 2018.04.18 with 46 pip Profit.
TP2 @ 0.7240 touched at 2018.04.20 with 111 pip Profit.
TP3 @ 0.7175 touched at 2018.04.23 with 176 pip Profit.
TP4 @ 0.7055 touched at 2018.04.27 with 296 pip Profit.
46 + 111 + 176 + 296 = 629 pip

Open Profit:
Profit for one trade is 0.7351(open price) - 0.7014(current price) = 337 pip
9 trade(s) still open, therefore total profit for open trade(s) is 337 x 9 = 3033 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.
  • If the Midterm level 0.71750 is broken, we will close open trades.

DateMay 5, 2018 - 19:03
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.71750 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 0.71750 is broken.

Technical analysis:

  • A trough is formed in daily chart at 0.6985 on 05/02/2018, so more gains to resistance(s) 0.7055, 0.7175, 0.7240 and maximum to Trend Hunter Sell Zone (0.7370 to 0.7435) 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. 0.7305
  2. 0.7240
  3. 0.7175
  4. 0.7055
  5. 0.6950
  6. 0.6820
  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.