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

#USDSGD
Total Profit: 1301 pip
Closed trade(s): 509 pip Profit
Open trade(s): 792 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.3323 based on 'Valley' entry method at 2021.05.12.

Closed Profit:
TP1 @ 1.3337 touched at 2021.05.13 with 14 pip Profit.
TP2 @ 1.3466 touched at 2021.07.01 with 143 pip Profit.
TP3 @ 1.3675 touched at 2021.07.20 with 352 pip Profit.
14 + 143 + 352 = 509 pip

Open Profit:
Profit for one trade is 1.3521(current price) - 1.3323(open price) = 198 pip
4 trade(s) still open, therefore total profit for open trade(s) is 198 x 4 = 792 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 1.33650 is broken, we will close open trades.
DateFebruary 27, 2022 - 15:03
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.33650, resumption of uptrend is expected.
  • We make sure when the resistance at 1.37310 breaks.
  • If the support at 1.33650 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.33650 is broken.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • There is a divergence in RSI and price between the trough at 1.34299 on 2022-01-13 and the trough at 1.339107 on 2022-02-13, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
  • A trough is formed in daily chart at 1.3410 on 02/18/2022, so more gains to resistance(s) 1.3591, 1.3675 and maximum to Major Resistance (1.3731) 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 59.

Take Profits:

  1. 1.3337
  2. 1.3466
  3. 1.3675
  4. 1.3785
  5. 1.4035
  6. 1.4635
Click on the level to view price action history.
Symbol Released Current Forecast
US Dollar / Singapore Dollar (USDSGD) Sun, 14 Apr 2024
US Dollar / Singapore Dollar (USDSGD) Sat, 6 Apr 2024
US Dollar / Singapore Dollar (USDSGD) Sat, 30 Mar 2024
US Dollar / Singapore Dollar (USDSGD) Sat, 30 Mar 2024
US Dollar / Singapore Dollar (USDSGD) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on USDSGD.