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

#USDSGD
Total Profit: 3524 pip
Closed trade(s): 614 pip Profit
Open trade(s): 2910 pip Profit

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

Closed Profit:
TP1 @ 1.32601 touched at 2023-02-06 with 40 pip Profit.
TP2 @ 1.33312 touched at 2023-02-15 with 111 pip Profit.
TP3 @ 1.34003 touched at 2023-02-23 with 180 pip Profit.
TP4 @ 1.35030 touched at 2023-03-07 with 283 pip Profit.
40 + 111 + 180 + 283 = 614 pip

Open Profit:
Profit for one BUY trade is 1.35105(current price) - 1.32197(open price) = 291 pip
10 trade(s) still open, therefore total profit for open trade(s) is 291 x 10 = 2910 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.
DateMay 28, 2023 - 18:12
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.36500, beginning of downtrend is expected.
  • We make sure when the support at 1.30000 breaks.
  • If the resistance at 1.36500 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of downtrend is decreased.
  • A trough is formed in daily chart at 1.32110 on 05/10/2023, so more gains to resistance(s) 1.35864 and maximum to Major Resistance (1.36500) 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 66.

Take Profits:

  1. 1.32592
  2. 1.33314
  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.
Symbol Released Current Forecast
US Dollar / Singapore Dollar (USDSGD) Sun, 29 Sep 2024
US Dollar / Singapore Dollar (USDSGD) Sun, 22 Sep 2024
US Dollar / Singapore Dollar (USDSGD) Sun, 15 Sep 2024
US Dollar / Singapore Dollar (USDSGD) Mon, 9 Sep 2024
US Dollar / Singapore Dollar (USDSGD) Sun, 1 Sep 2024
History
Daily-Trading-Opportunities on USDSGD.