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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup
#EURGBP
Total Profit: 757 pip
Closed trade(s): 89 pip Profit
Open trade(s): 668 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 0.8771 (day close price) based on 'Valley' at 2020.05.01 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 0.8860 touched at 2020.05.13 with 89 pip Profit.

Open Profit:
Profit for one trade is 0.8938(current price) - 0.8771(open price) = 167 pip
4 trade(s) still open, therefore total profit for open trade(s) is 167 x 4 = 668 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.
DateMay 16, 2020 - 20:31
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 0.90850 breaks.
  • If the support at 0.85900 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 0.8670 on 04/30/2020, so more gains to resistance(s) 0.9000 and maximum to Major Resistance (0.9085) 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 64.

Take Profits:

  1. 0.8860
  2. 0.9000
  3. 0.9325
  4. 0.9500
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.