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Weekly forecast US Dollar / Singapore Dollar technical chart
Symbol USDSGD
Trade Setup

#USDSGD
Total Profit: 1509 pip
Closed trade(s): 549 pip Profit
Open trade(s): 960 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 @ 1.3365 touched at 2021.05.14 with 42 pip Profit.
TP3 @ 1.3466 touched at 2021.07.01 with 143 pip Profit.
TP4 @ 1.3675 touched at 2021.07.20 with 352 pip Profit.
12 + 42 + 143 + 352 = 549 pip

Open Profit:
Profit for one trade is 1.3563(current price) - 1.3323(open price) = 240 pip
4 trade(s) still open, therefore total profit for open trade(s) is 240 x 4 = 960 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.
  • If the Midterm level 1.34930 is broken, we will close open trades.

DateDecember 26, 2021 - 00:26
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.34930, resumption of uptrend is expected.
  • We make sure when the resistance at 1.37310 breaks.
  • If the support at 1.34930 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.34930 is broken.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • A peak is formed in daily chart at 1.3700 on 12/15/2021, so more losses minimum to Major Support (1.3493) 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 43.

Take Profits:

  1. 1.3335
  2. 1.3365
  3. 1.3466
  4. 1.3675
  5. 1.3785
  6. 1.4035
  7. 1.4635
Click on the level to view price action history.