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

Download MT4 template file

Trade Setup
#AUDNZD
Total Profit: 660 pip
Closed trade(s): 132 pip Profit
Open trade(s): 528 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.0354 (day close price) based on 'Two-day reversal candle(Hammer)' at 2020.02.03 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 1.0395 touched at 2020.02.04 with 41 pip Profit.
TP2 @ 1.0445 touched at 2020.02.06 with 91 pip Profit.
41 + 91 = 132 pip

Open Profit:
Profit for one trade is 1.0420(current price) - 1.0354(open price) = 66 pip
8 trade(s) still open, therefore total profit for open trade(s) is 66 x 8 = 528 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 8, 2020 - 19:58
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.02600, beginning of uptrend is expected.
  • We make sure when the resistance at 1.04450 breaks.
  • If the support at 1.02600 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.0387 on 2019-12-11 and the trough at 1.03145 on 2020-01-08, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
  • A trough is formed in daily chart at 1.0305 on 01/27/2020, so more gains maximum to Major Resistance (1.0445) 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 57.

Take Profits:

  1. 1.0395
  2. 1.0445
  3. 1.0525
  4. 1.0585
  5. 1.0660
  6. 1.0730
  7. 1.0850
  8. 1.0990
  9. 1.1140
Click on the level to view price action history.
Symbol Released Current Forecast
Australian Dollar / New Zealand Dollar (AUDNZD) Sun, 14 Apr 2024
Australian Dollar / New Zealand Dollar (AUDNZD) Sun, 7 Apr 2024
Australian Dollar / New Zealand Dollar (AUDNZD) Sat, 30 Mar 2024
Australian Dollar / New Zealand Dollar (AUDNZD) Sun, 24 Mar 2024
Australian Dollar / New Zealand Dollar (AUDNZD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on AUDNZD.