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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup
#EURGBP
Total Profit: -1236 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1236 pip Profit

Trade Setup:
We opened 6 BUY trade(s) @ 0.8507 (day close price) based on 'Valley' at 2020.02.03 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Open Profit:
Profit for one trade is 0.8301(current price) - 0.8507(open price) = -206 pip
6 trade(s) still open, therefore total profit for open trade(s) is -206 x 6 = -1236 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.
DateFebruary 15, 2020 - 15:40
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.82750, beginning of uptrend is expected.
  • We make sure when the resistance at 0.85900 breaks.
  • If the support at 0.82750 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 58 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 0.8535 on 02/04/2020, so more losses minimum to Major Support (0.8275) 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 32.

Take Profits:

  1. 0.8590
  2. 0.8675
  3. 0.8800
  4. 0.9000
  5. 0.9325
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / British Pound (EURGBP) new Sun, 21 Apr 2024
Euro / British Pound (EURGBP) Sun, 14 Apr 2024
Euro / British Pound (EURGBP) Sat, 6 Apr 2024
Euro / British Pound (EURGBP) Sat, 30 Mar 2024
Euro / British Pound (EURGBP) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on EURGBP.