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Weekly forecast Singapore Dollar / Japanese Yen technical chart
Symbol SGDJPY

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Trade Setup
#SGDJPY
Total Profit: 810 pip
Closed trade(s): 495 pip Profit
Open trade(s): 315 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 75.80 based on 'Valley' at 2020.05.11.

Closed Profit:
TP1 @ 76.65 touched at 2020.06.02 with 85 pip Profit.
TP2 @ 77.10 touched at 2020.06.02 with 130 pip Profit.
TP3 @ 78.60 touched at 2020.06.05 with 280 pip Profit.
85 + 130 + 280 = 495 pip

Open Profit:
Profit for one trade is 76.43(current price) - 75.80(open price) = 63 pip
5 trade(s) still open, therefore total profit for open trade(s) is 63 x 5 = 315 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.
  • If the Midterm level 75.950 is broken, we will close open trades.

DateSeptember 26, 2020 - 21:10
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 75.950, resumption of uptrend is expected.
  • We make sure when the resistance at 78.600 breaks.
  • If the support at 75.950 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 75.950 is broken.

Technical analysis:

  • The RSI support #1 at 37 is broken, so the probability of resumption of uptrend is decreased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 78.25 on 08/28/2020, so more losses minimum to Major Support (75.95) 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 33.

Take Profits:

  1. 76.65
  2. 77.10
  3. 78.60
  4. 80.15
  5. 81.80
  6. 83.05
  7. 85.25
Click on the level to view price action history.