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Weekly forecast US Dollar / Singapore Dollar technical chart
Symbol USDSGD

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Trade Setup
#USDSGD
Total Profit: -384 pip
Closed trade(s): 0 pip Profit
Open trade(s): -384 pip Profit

Trade Setup:
We opened 6 BUY trade(s) @ 1.3698 (day close price) based on 'Valley' at 2020.09.08.

Open Profit:
Profit for one trade is 1.3634(current price) - 1.3698(open price) = -64 pip
6 trade(s) still open, therefore total profit for open trade(s) is -64 x 6 = -384 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.

DateSeptember 8, 2020 - 21:31
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.34300, beginning of uptrend is expected.
  • We make sure when the resistance at 1.37450 breaks.
  • If the support at 1.34300 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.3550 on 09/01/2020, so more gains maximum to Major Resistance (1.3745) 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 51.

Take Profits:

  1. 1.3745
  2. 1.3885
  3. 1.4035
  4. 1.4270
  5. 1.4635
Click on the level to view price action history.