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

#EURGBP
Total Profit: 883 pip
Closed trade(s): 232 pip Profit
Open trade(s): 651 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 0.8406 based on 'Valley' at 2022.04.22 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 0.8478 touched at 2022.05.05 with 72 pip Profit.
TP2 @ 0.8566 touched at 2022.05.06 with 160 pip Profit.
72 + 160 = 232 pip

Open Profit:
Profit for one trade is 0.8499(current price) - 0.8406(open price) = 93 pip
7 trade(s) still open, therefore total profit for open trade(s) is 93 x 7 = 651 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 15, 2022 - 19:27
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.82750, resumption of uptrend is expected.
  • We make sure when the resistance at 0.87156 breaks.
  • If the support at 0.82750 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.86180 on 05/12/2022, so more losses to support(s) 0.84775, 0.84126, 0.83660 and minimum to Major Support (0.82750) 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 58.

Take Profits:

  1. 0.84775
  2. 0.85664
  3. 0.86328
  4. 0.87156
  5. 0.87890
  6. 0.88600
  7. 0.89400
  8. 0.90000
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / British Pound (EURGBP) new Sun, 26 Jun 2022
Euro / British Pound (EURGBP) Sun, 19 Jun 2022
Euro / British Pound (EURGBP) free Sun, 12 Jun 2022
Euro / British Pound (EURGBP) Sun, 5 Jun 2022
Euro / British Pound (EURGBP) Sun, 29 May 2022