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Weekly forecast US Dollar / Singapore Dollar technical chart
Symbol USDSGD
Trade Setup

#USDSGD
Total Profit: 1714 pip
Closed trade(s): 614 pip Profit
Open trade(s): 1100 pip Profit

Trade Setup:
We opened 14 BUY trades @ 1.32197 based on 'Valley' entry method at 2023-02-03.

Closed Profit:
TP1 @ 1.32601 touched at 2023-02-06 with 40 pip Profit.
TP2 @ 1.33312 touched at 2023-02-15 with 111 pip Profit.
TP3 @ 1.34003 touched at 2023-02-23 with 180 pip Profit.
TP4 @ 1.35030 touched at 2023-03-07 with 283 pip Profit.
40 + 111 + 180 + 283 = 614 pip

Open Profit:
Profit for one BUY trade is 1.33299(current price) - 1.32197(open price) = 110 pip
10 trade(s) still open, therefore total profit for open trade(s) is 110 x 10 = 1100 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.

DateMarch 25, 2023 - 14:07
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.30000, resumption of uptrend is expected.
  • We make sure when the resistance at 1.36500 breaks.
  • If the support at 1.30000 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.32180 on 03/23/2023, so more gains to resistance(s) 1.33314, 1.34003, 1.35030 and maximum to Major Resistance (1.36500) 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 45.

Take Profits:

  1. 1.32614
  2. 1.33314
  3. 1.34003
  4. 1.35030
  5. 1.35864
  6. 1.36500
  7. 1.37411
  8. 1.39242
  9. 1.40909
  10. 1.42254
  11. 1.43903
  12. 1.44767
  13. 1.46350
Click on the level to view price action history.