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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Symbol AUDSGD
Trade Setup

#AUDSGD
Total Profit: 6 pip
Closed trade(s): 0 pip Profit
Open trade(s): 6 pip Profit

Trade Setup:
We opened 6 BUY trades @ 0.9627 based on 'Valley' entry method at 2022-06-24.

Open Profit:
Profit for one BUY trade is 0.96283(current price) - 0.9627(open price) = 1 pip
6 trade(s) still open, therefore total profit for open trade(s) is 1 x 6 = 6 pip

#AUDSGD
Total Profit: 6 pip
Closed trade(s): 0 pip Profit
Open trade(s): 6 pip Profit

Trade Setup:
We opened 6 BUY trades @ 0.9627 based on 'Valley' entry method at 2022-06-24.

Open Profit:
Profit for one BUY trade is 0.96283(current price) - 0.9627(open price) = 1 pip
6 trade(s) still open, therefore total profit for open trade(s) is 1 x 6 = 6 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.

DateJuly 31, 2022 - 13:33
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.93302, beginning of uptrend is expected.
  • We make sure when the resistance at 1.01573 breaks.
  • If the support at 0.93302 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 0.93775 on 07/14/2022, so more gains to resistance(s) 0.97255, 0.97826, 0.99724 and maximum to Major Resistance (1.01573) 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 54.

Take Profits:

  1. 0.97255
  2. 0.99724
  3. 1.01573
  4. 1.03135
  5. 1.05212
Click on the level to view price action history.