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

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

Trade Setup:
We opened 14 BUY trades @ 1.32197 based on 'Valley' entry method at 2023-02-03.

Open Profit:
Profit for one BUY trade is 1.32197(current price) - 1.32197(open price) = 0 pip
14 trade(s) still open, therefore total profit for open trade(s) is 0 x 14 = 0 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.

DateFebruary 5, 2023 - 08:35
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.30000, beginning of uptrend is expected.
  • We make sure when the resistance at 1.35030 breaks.
  • If the support at 1.30000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.30170 on 02/02/2023, so more gains to resistance(s) 1.32601, 1.33312, 1.34003 and maximum to Major Resistance (1.35030) 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 48.

Take Profits:

  1. 1.32601
  2. 1.33312
  3. 1.34003
  4. 1.35030
  5. 1.35864
  6. 1.36500
  7. 1.37411
  8. 1.39242
  9. 1.40909
  10. 1.42254
  11. 1.43903
  12. 1.44767
  13. 1.46350
Click on the level to view price action history.