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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup
#EURGBP
Total Profit: 2062 pip
Closed trade(s): 2062 pip Profit
Open trade(s): 0 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...

Closed Profit:
TP1 @ 0.8590 touched at 2020.02.28 with 83 pip Profit.
TP2 @ 0.8675 touched at 2020.03.02 with 168 pip Profit.
TP3 @ 0.8800 touched at 2020.03.11 with 293 pip Profit.
TP4 @ 0.9000 touched at 2020.03.13 with 493 pip Profit.
TP5 @ 0.9325 touched at 2020.03.18 with 818 pip Profit.
83 + 168 + 293 + 493 + 818 = 1855 pip

Closed Profit:
Profit for one trade is 0.8714(current price) - 0.8507(open price) = 207 pip
1 trade(s) closed at market price as the major support is broken, therefore total profit will increase by 207 x 1 = 207 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.8385 to 0.8310). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (0.8385)
    • Support on 09/01/2016
    • Support on 09/02/2016
    • Support on 12/01/2016
    • Support on 12/05/2016
    • Support on 12/09/2016
    • Resistance on 12/16/2016
    • Support on 05/10/2017
    • Support on 01/24/2020
    • Trough on 01/31/2020
    • Support on 01/31/2020
    • Support on 02/12/2020
    • Resistance on 02/20/2020
    • Resistance on 02/21/2020
  • Ending of entry zone (0.8310)
    • Resistance on 06/24/2016
    • Resistance on 06/29/2016
    • Support on 07/01/2016
    • Support on 07/13/2016
    • Support on 07/14/2016
    • Support on 07/15/2016
    • Support on 07/18/2016
    • Support on 07/21/2016
    • Support on 12/05/2016
    • Support on 04/18/2017
    • Support on 12/13/2019
    • Support on 12/16/2019
DateApril 18, 2020 - 21:31
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.85900, resumption of uptrend is expected.
  • We make sure when the resistance at 0.91050 breaks.
  • If the support at 0.85900 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.9495 on 03/19/2020, so more losses to support(s) 0.8675 and minimum to Major Support (0.8590) 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 40.

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) 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
Euro / British Pound (EURGBP) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURGBP.