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Weekly forecast Euro / British Pound technical chart

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Trade Setup
Total Profit: 733 pip
Closed trade(s): 299 pip Profit
Open trade(s): 434 pip Profit

Trade Setup:
We opened 4 SELL trade(s) @ 0.8842 based on 'Peak' at 2019.10.10 signaled by DTO:

Closed Profit:
TP1 @ 0.8755 touched at 2019.10.11 with 87 pip Profit.
TP2 @ 0.8630 touched at 2019.10.15 with 212 pip Profit.
87 + 212 = 299 pip

Open Profit:
Profit for one trade is 0.8842(open price) - 0.8625(current price) = 217 pip
2 trade(s) still open, therefore total profit for open trade(s) is 217 x 2 = 434 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.
  • If the Midterm level 0.8820 is broken, we will close open trades.
  • Price may also reach 0.8820, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateNovember 9, 2019 - 17:53
Forecastcontinuation of downtrend
Last weekBearish

Midterm forecast:

  • 0.8820 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 0.8820 is broken.

Technical analysis:

  • A peak is formed in daily chart at 0.9020 on 10/10/2019, so more losses to support(s) 0.8490, 0.8400, 0.8120 and more depths 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 39.

Take Profits:

  1. 0.8755
  2. 0.8630
  3. 0.8490
Click on the level to view price action history.

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