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

Download MT4 template file

Trade Setup

#NZDUSD
Total Profit: 4574 pip
Closed trade(s): 1030 pip Profit
Open trade(s): 3544 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.
TP5 @ 0.6950 touched at 2018.05.09 with 401 pip Profit.
46 + 111 + 176 + 296 + 401 = 1030 pip

Open Profit:
Profit for one trade is 0.7351(open price) - 0.6908(current price) = 443 pip
8 trade(s) still open, therefore total profit for open trade(s) is 443 x 8 = 3544 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 0.70550 is broken, we will close open trades.
  • Price may also reach 0.70550, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.
DateJune 24, 2018 - 13:44
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.70550 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 0.70550 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.685 on 2018-05-16 and the trough at 0.6825 on 2018-06-21, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.6825 on 06/21/2018, so more gains to resistance(s) 0.6950 and maximum to Major Resistance (0.7055) 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 41.

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.
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History
Daily-Trading-Opportunities on NZDUSD.