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Weekly forecast Singapore Dollar / Japanese Yen technical chart
Symbol SGDJPY

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Trade Setup

#SGDJPY
Total Profit: 804 pip
Closed trade(s): 153 pip Profit
Open trade(s): 651 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 81.89 based on 'Shooting star' entry method at 2021.07.06.

Closed Profit:
TP1 @ 81.35 touched at 2021.07.08 with 54 pip Profit.
TP2 @ 80.90 touched at 2021.07.08 with 99 pip Profit.
54 + 99 = 153 pip

Open Profit:
Profit for one trade is 81.89(open price) - 80.96(current price) = 93 pip
7 trade(s) still open, therefore total profit for open trade(s) is 93 x 7 = 651 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.

DateJuly 17, 2021 - 09:50
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 83.050, beginning of downtrend is expected.
  • We make sure when the support at 80.400 breaks.
  • If the resistance at 83.050 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 82.75 on 07/01/2021, so more losses to support(s) 80.90 and minimum to Major Support (80.40) 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 35.

Take Profits:

  1. 81.35
  2. 80.90
  3. 80.40
  4. 79.85
  5. 78.60
  6. 76.20
  7. 74.25
  8. 72.05
Click on the level to view price action history.