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

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Trade Setup
#NZDUSD
Total Profit: 507 pip
Closed trade(s): 243 pip Profit
Open trade(s): 264 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 0.6691 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 84 pip Profit.
TP2 @ 0.6850 touched at 2019.01.28 with 159 pip Profit.
84 + 159 = 243 pip

Open Profit:
Profit for one trade is 0.6735(current price) - 0.6691(open price) = 44 pip
6 trade(s) still open, therefore total profit for open trade(s) is 44 x 6 = 264 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.

DateFebruary 9, 2019 - 22:52
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 0.6610, resumption of uptrend is expected.
  • We make sure when the resistance at 0.6970 breaks.
  • If the support at 0.6610 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 0.6940 on 02/01/2019, so more losses to support(s) 0.6705 and minimum to Major Support (0.6610) 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. 0.6775
  2. 0.6850
  3. 0.6970
  4. 0.7025
  5. 0.7175
  6. 0.7435
  7. 0.7560
Click on the level to view price action history.