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

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Trade Setup

#NZDUSD
Total Profit: 7443 pip
Closed trade(s): 3213 pip Profit
Open trade(s): 4230 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.
TP6 @ 0.6820 touched at 2018.06.27 with 531 pip Profit.
TP7 @ 0.6620 touched at 2018.08.09 with 731 pip Profit.
TP8 @ 0.6430 touched at 2018.10.08 with 921 pip Profit.
46 + 111 + 176 + 296 + 401 + 531 + 731 + 921 = 3213 pip

Open Profit:
Profit for one trade is 0.7351(open price) - 0.6505(current price) = 846 pip
5 trade(s) still open, therefore total profit for open trade(s) is 846 x 5 = 4230 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 0.67000 is broken, we will close open trades.
DateOctober 13, 2018 - 16:25
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.67000 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 0.67000 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.6544 on 2018-08-15 and the trough at 0.6424 on 2018-10-08, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 0.6425 on 10/08/2018, so more gains to resistance(s) 0.6545, 0.6620 and maximum to Major Resistance (0.6700) 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. 0.7305
  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.