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Weekly forecast New Zealand Dollar / US Dollar technical chart
Symbol NZDUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.6770 to 0.6790). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.6770)
    • Resistance on 07/22/2019
    • Resistance on 08/31/2020
    • Resistance on 09/01/2020
    • Resistance on 09/18/2020
    • Resistance on 09/21/2020
  • Ending of entry zone (0.6790)
    • Resistance on 07/05/2018
    • Resistance on 07/12/2018
    • Resistance on 07/13/2018
    • Resistance on 07/16/2018
    • Resistance on 07/17/2018
    • Support on 07/25/2018
    • Resistance on 08/02/2018
    • Resistance on 11/07/2018
    • Resistance on 11/08/2018
    • Resistance on 11/14/2018
    • Support on 11/22/2018
    • Support on 12/14/2018
    • Support on 12/17/2018
    • Support on 12/18/2018
    • Resistance on 12/21/2018
    • Resistance on 01/09/2019
    • Resistance on 01/10/2019
    • Resistance on 01/17/2019
    • Resistance on 01/23/2019
    • Resistance on 01/24/2019
    • Support on 02/14/2019
    • Support on 02/21/2019
    • Support on 02/22/2019
    • Support on 02/28/2019
    • Support on 03/01/2019
    • Support on 03/04/2019
    • Resistance on 03/06/2019
    • Resistance on 03/07/2019
    • Support on 03/11/2019
    • Support on 03/27/2019
    • Resistance on 07/18/2019
    • Resistance on 07/19/2019
    • Resistance on 07/22/2019
    • Peak on 09/02/2020
    • Resistance on 09/02/2020
    • Resistance on 09/18/2020

DateOctober 24, 2020 - 21:51
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.67900, beginning of downtrend is expected.
  • We make sure when the support at 0.65000 breaks.
  • If the resistance at 0.67900 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 38 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 0.6550 on 10/20/2020, so more gains to resistance(s) 0.6710, 0.6770 and maximum to Major Resistance (0.6790) 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 58.

Take Profits:

  1. 0.6615
  2. 0.6500
  3. 0.6375
  4. 0.6240
  5. 0.6080
  6. 0.5930
  7. 0.5470
Click on the level to view price action history.