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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP
Trade Setup

#EURGBP
Total Profit: -591 pip
Closed trade(s): 21 pip Profit
Open trade(s): -612 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 0.8639 based on 'Downtrend Break Up' entry method at 2021.04.07.

Closed Profit:
TP1 @ 0.8660 touched at 2021.04.08 with 21 pip Profit.

Open Profit:
Profit for one trade is 0.8537(current price) - 0.8639(open price) = -102 pip
6 trade(s) still open, therefore total profit for open trade(s) is -102 x 6 = -612 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.

DateSeptember 10, 2021 - 21:45
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.84490, resumption of uptrend is expected.
  • We make sure when the resistance at 0.87200 breaks.
  • If the support at 0.84490 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • There is a divergence in RSI and price between the trough at 0.85385 on 2021-02-24 and the trough at 0.84715 on 2021-04-05, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 0.8613 on 09/07/2021, so more losses to support(s) 0.8496, 0.8469 and minimum to Major Support (0.8449) 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 45.

Take Profits:

  1. 0.8660
  2. 0.8720
  3. 0.8785
  4. 0.8860
  5. 0.8940
  6. 0.9000
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / British Pound (EURGBP) new 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
Euro / British Pound (EURGBP) Sun, 18 Feb 2024