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

#USDSGD
Total Profit: -438 pip
Closed trade(s): 0 pip Profit
Open trade(s): -438 pip Profit

Trade Setup:
We opened 6 SELL trades @ 1.39735 based on 'Peak' entry method at 2022-09-09.

Open Profit:
Profit for one SELL trade is 1.39735(open price) - 1.4047(current price) = -73 pip
6 trade(s) still open, therefore total profit for open trade(s) is -73 x 6 = -438 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateSeptember 18, 2022 - 14:00
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.40909, beginning of downtrend is expected.
  • We make sure when the support at 1.36500 breaks.
  • If the resistance at 1.40909 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.39250 on 09/13/2022, so more gains to resistance(s) 1.40519 and maximum to Major Resistance (1.40909) 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 60.

Take Profits:

  1. 1.39242
  2. 1.38526
  3. 1.37759
  4. 1.36500
  5. 1.35587
Click on the level to view price action history.