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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup
#EURGBP
Total Profit: 1186 pip
Closed trade(s): 178 pip Profit
Open trade(s): 1008 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 0.9059 (day close price) based on 'Peak' at 2020.07.28 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 0.9000 touched at 2020.07.31 with 59 pip Profit.
TP2 @ 0.8940 touched at 2020.08.27 with 119 pip Profit.
59 + 119 = 178 pip

Open Profit:
Profit for one trade is 0.9059(open price) - 0.8915(current price) = 144 pip
7 trade(s) still open, therefore total profit for open trade(s) is 144 x 7 = 1008 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.

DateAugust 29, 2020 - 22:24
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.91750 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.9070 on 08/17/2020, so more losses to support(s) 0.8860, 0.8785, 0.8670 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 37.

Take Profits:

  1. 0.9000
  2. 0.8940
  3. 0.8860
  4. 0.8785
  5. 0.8670
  6. 0.8590
  7. 0.8460
  8. 0.8275
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sat, 23 Mar 2024
Euro / British Pound (EURGBP) Sun, 17 Mar 2024
Euro / British Pound (EURGBP) Sat, 9 Mar 2024
Euro / British Pound (EURGBP) Sat, 2 Mar 2024
Euro / British Pound (EURGBP) Sun, 25 Feb 2024