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Weekly forecast British Pound / New Zealand Dollar technical chart
Symbol GBPNZD

Download MT4 template file

Trade Setup
#GBPNZD
Total Profit: 1941 pip
Closed trade(s): 897 pip Profit
Open trade(s): 1044 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.9216 based on 'Two-day reversal candle Hammer' at 2020.09.21 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.9300 touched at 2020.09.23 with 84 pip Profit.
TP2 @ 1.9465 touched at 2020.09.24 with 249 pip Profit.
TP3 @ 1.9780 touched at 2020.10.22 with 564 pip Profit.
84 + 249 + 564 = 897 pip

Open Profit:
Profit for one trade is 1.9477(current price) - 1.9216(open price) = 261 pip
4 trade(s) still open, therefore total profit for open trade(s) is 261 x 4 = 1044 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.

DateOctober 24, 2020 - 21:46
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.90000, beginning of uptrend is expected.
  • We make sure when the resistance at 2.02550 breaks.
  • If the support at 1.90000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.9793 on 10/22/2020, so more losses to support(s) 1.9465, 1.9300, 1.9060 and minimum to Major Support (1.9000) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 47.

Take Profits:

  1. 1.9300
  2. 1.9465
  3. 1.9780
  4. 2.0000
  5. 2.0255
  6. 2.1035
Click on the level to view price action history.