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

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Trade Setup

#NZDUSD
Total Profit: 1044 pip
Closed trade(s): 85 pip Profit
Open trade(s): 959 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 0.6690 (day close price) based on 'Hammer' at 2019.01.03 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Closed Profit:
TP1 @ 0.6775 touched at 2019.01.09 with 85 pip Profit.

Open Profit:
Profit for one trade is 0.6827(current price) - 0.6690(open price) = 137 pip
7 trade(s) still open, therefore total profit for open trade(s) is 137 x 7 = 959 pip

Trading suggestion:

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

DateJanuary 12, 2019 - 22:07
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.64300 would begin in Midterm.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.6580 on 01/03/2019, so more gains to resistance(s) 0.6860, 0.6970, 0.7025 and more heights 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 58.

Take Profits:

  1. 0.6775
  2. 0.6860
  3. 0.6970
  4. 0.7025
  5. 0.7175
  6. 0.7435
  7. 0.7560
Click on the level to view price action history.