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Weekly forecast US Dollar / Singapore Dollar technical chart
Symbol USDSGD

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Trade Setup
#USDSGD
Total Profit: 66 pip
Closed trade(s): 24 pip Profit
Open trade(s): 42 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.3311 based on 'Valley' entry method at 2021.01.11.

Closed Profit:
TP1 @ 1.3335 touched at 2021.02.04 with 24 pip Profit.

Open Profit:
Profit for one trade is 1.3317(current price) - 1.3311(open price) = 6 pip
7 trade(s) still open, therefore total profit for open trade(s) is 6 x 7 = 42 pip

#USDSGD
Total Profit: -994 pip
Closed trade(s): 0 pip Profit
Open trade(s): -994 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.3459 based on 'Hammer' entry method at 2020.11.09.

Open Profit:
Profit for one trade is 1.3317(current price) - 1.3459(open price) = -142 pip
7 trade(s) still open, therefore total profit for open trade(s) is -142 x 7 = -994 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 28, 2021 - 16:18
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1.3145, beginning of uptrend is expected.
  • We make sure when the resistance at 1.3460 breaks.
  • If the support at 1.3145 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 peak is formed in daily chart at 1.3380 on 02/05/2021, so more losses to support(s) 1.3235 and minimum to Major Support (1.3145) 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. 1.3335
  2. 1.3390
  3. 1.3460
  4. 1.3675
  5. 1.3785
  6. 1.4035
  7. 1.4635
Click on the level to view price action history.