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Weekly forecast US Dollar / Singapore Dollar technical chart
Symbol USDSGD

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Trade Setup
#USDSGD
Total Profit: 549 pip
Closed trade(s): 39 pip Profit
Open trade(s): 510 pip Profit

Trade Setup:
We opened 6 BUY trade(s) @ 1.4156 (day close price) based on 'Valley' at 2020.05.11.

Closed Profit:
TP1 @ 1.4195 touched at 2020.05.14 with 39 pip Profit.

Open Profit:
Profit for one trade is 1.4258(current price) - 1.4156(open price) = 102 pip
5 trade(s) still open, therefore total profit for open trade(s) is 102 x 5 = 510 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.

DateMay 16, 2020 - 21:03
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.40350, resumption of uptrend is expected.
  • We make sure when the resistance at 1.46350 breaks.
  • If the support at 1.40350 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.4055 on 04/30/2020, so more gains to resistance(s) 1.4315, 1.4405, 1.4535 and maximum to Major Resistance (1.4635) 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. 1.4195
  2. 1.4315
  3. 1.4405
  4. 1.4535
  5. 1.4635
Click on the level to view price action history.