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

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Trade Setup

#NZDUSD
Total Profit: -1024 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1024 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 0.7155 based on 'Peak' at 2021.04.30 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Open Profit:
Profit for one trade is 0.7155(open price) - 0.7283(current price) = -128 pip
8 trade(s) still open, therefore total profit for open trade(s) is -128 x 8 = -1024 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateMay 9, 2021 - 12:52
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 0.74650, resumption of downtrend is expected.
  • We make sure when the support at 0.69400 breaks.
  • If the resistance at 0.74650 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.7111 on 05/04/2021, so more gains to resistance(s) 0.7315 and maximum to Major Resistance (0.7465) 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 61.

Take Profits:

  1. 0.7100
  2. 0.7005
  3. 0.6940
  4. 0.6775
  5. 0.6615
  6. 0.6385
  7. 0.6240
Click on the level to view price action history.