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Weekly forecast US Dollar / Singapore Dollar technical chart
Symbol USDSGD

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Trade Setup

#USDSGD
Total Profit: 727 pip
Closed trade(s): 79 pip Profit
Open trade(s): 648 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.3323 based on 'Valley' entry method at 2021.05.12.

Closed Profit:
TP1 @ 1.3335 touched at 2021.05.13 with 12 pip Profit.
TP2 @ 1.3390 touched at 2021.06.17 with 67 pip Profit.
12 + 67 = 79 pip

Open Profit:
Profit for one trade is 1.3431(current price) - 1.3323(open price) = 108 pip
6 trade(s) still open, therefore total profit for open trade(s) is 108 x 6 = 648 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.

DateJune 20, 2021 - 21:37
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 1.3500 breaks.
  • If the support at 1.3145 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.3223 on 2021-04-29 and the trough at 1.31785 on 2021-06-01, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.3205 on 06/11/2021, so more gains to resistance(s) 1.3460 and maximum to Major Resistance (1.3500) 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 69.

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.