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Weekly forecast Australian Dollar / New Zealand Dollar technical chart
Symbol AUDNZD

Download MT4 template file

Trade Setup
#AUDNZD
Total Profit: 966 pip
Closed trade(s): 186 pip Profit
Open trade(s): 780 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.0617 (day close price) based on 'Valley' at 2021.02.04 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 1.0660 touched at 2021.02.05 with 43 pip Profit.
TP2 @ 1.0760 touched at 2021.02.15 with 143 pip Profit.
43 + 143 = 186 pip

Open Profit:
Profit for one trade is 1.0773(current price) - 1.0617(open price) = 156 pip
5 trade(s) still open, therefore total profit for open trade(s) is 156 x 5 = 780 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 20, 2021 - 18:35
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.05150, resumption of uptrend is expected.
  • We make sure when the resistance at 1.08900 breaks.
  • If the support at 1.05150 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.0537 on 02/03/2021, so more gains to resistance(s) 1.0815 and maximum to Major Resistance (1.0890) 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. 1.0660
  2. 1.0760
  3. 1.0815
  4. 1.0890
  5. 1.1045
  6. 1.1455
Click on the level to view price action history.