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

#USDSGD
Total Profit: 2316 pip
Closed trade(s): 636 pip Profit
Open trade(s): 1680 pip Profit

Trade Setup:
We opened 12 SELL trades @ 1.43318 based on 'Shootting' entry method at 2022-09-28.

Closed Profit:
TP1 @ 1.43005 touched at 2022-09-30 with 31 pip Profit.
TP2 @ 1.42630 touched at 2022-10-04 with 69 pip Profit.
TP3 @ 1.42065 touched at 2022-10-04 with 125 pip Profit.
TP4 @ 1.41618 touched at 2022-10-18 with 170 pip Profit.
TP5 @ 1.40909 touched at 2022-10-26 with 241 pip Profit.
31 + 69 + 125 + 170 + 241 = 636 pip

Open Profit:
Profit for one SELL trade is 1.43318(open price) - 1.40921(current price) = 240 pip
7 trade(s) still open, therefore total profit for open trade(s) is 240 x 7 = 1680 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.

DateOctober 30, 2022 - 08:59
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.44767, beginning of downtrend is expected.
  • We make sure when the support at 1.36500 breaks.
  • If the resistance at 1.44767 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.42985 on 10/21/2022, so more losses to support(s) 1.40909, 1.40519, 1.39750 and minimum to Major Support (1.36500) 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. 1.43005
  2. 1.42630
  3. 1.42065
  4. 1.41618
  5. 1.40909
  6. 1.39750
  7. 1.39242
  8. 1.38526
  9. 1.37759
  10. 1.36500
  11. 1.35587
Click on the level to view price action history.