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

#EURGBP
Total Profit: -149 pip
Closed trade(s): 31 pip Profit
Open trade(s): -180 pip Profit

Trade Setup:
We opened 6 BUY trades @ 0.86387 based on 'Downtrend Break Up' entry method at 2021-04-07.

Closed Profit:
TP1 @ 0.8670 touched at 2021-04-08 with 31 pip Profit.

Open Profit:
Profit for one BUY trade is 0.86028(current price) - 0.86387(open price) = -36 pip
5 trade(s) still open, therefore total profit for open trade(s) is -36 x 5 = -180 pip

#EURGBP
Total Profit: 1755 pip
Closed trade(s): 770 pip Profit
Open trade(s): 985 pip Profit

Trade Setup:
We opened 9 BUY trades @ 0.84063 based on 'Valley' entry method at 2022-04-22, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 0.84775 touched at 2022-05-05 with 72 pip Profit.
TP2 @ 0.85670 touched at 2022-05-06 with 161 pip Profit.
TP3 @ 0.86328 touched at 2022-06-14 with 227 pip Profit.
TP4 @ 0.87156 touched at 2022-06-15 with 310 pip Profit.
72 + 161 + 227 + 310 = 770 pip

Open Profit:
Profit for one BUY trade is 0.86028(current price) - 0.84063(open price) = 197 pip
5 trade(s) still open, therefore total profit for open trade(s) is 197 x 5 = 985 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.
  • If the Midterm level 0.84133 is broken, we will close open trades.

DateJune 26, 2022 - 11:35
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.84133, resumption of uptrend is expected.
  • We make sure when the resistance at 0.87156 breaks.
  • If the support at 0.84133 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.84133 is broken.

Technical analysis:

  • A peak is formed in daily chart at 0.87205 on 06/15/2022, so more losses to support(s) 0.85664, 0.84775 and minimum to Major Support (0.84133) 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 56.

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, 14 Aug 2022
Euro / British Pound (EURGBP) Sat, 6 Aug 2022
Euro / British Pound (EURGBP) Sun, 31 Jul 2022
Euro / British Pound (EURGBP) Sun, 24 Jul 2022
Euro / British Pound (EURGBP) Sun, 17 Jul 2022