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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup

#EURGBP
Total Profit: -320 pip
Closed trade(s): 0 pip Profit
Open trade(s): -320 pip Profit
_______________________________________________
Trade Setup:
We opened 16 BUY trade(s) @ 0.7830 (day close price) based on "Two-Day Reversal Candle" at 2015.01.02 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/EURGBP...

Open Profit:
Profit for one trade is 0.7810(current price) - 0.7830(open price) = -20 pip
16 trades are still open, therefore total profit for open trades is -20 x 16 = -320 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.7800 to 0.7755). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.7800)
    • Support on 01/09/2015
    • Support on 01/08/2015
    • Support on 01/05/2015
    • Support on 11/12/2014
    • Trough on 11/10/2014
    • Trough on 11/07/2014
    • Trough on 11/06/2014
    • Support on 11/06/2014
    • Trough on 11/03/2014
    • Support on 11/03/2014
    • Resistance on 10/01/2014
    • Support on 09/29/2014
    • Support on 09/26/2014
    • Support on 09/25/2014
    • Support on 07/31/2012
    • Support on 07/30/2012
    • Support on 07/27/2012
    • Support on 07/19/2012
    • Support on 10/31/2008
    • Support on 10/22/2008
    • Resistance on 10/17/2008
    • Support on 10/15/2008
    • Support on 10/14/2008
    • Support on 10/13/2008
    • Resistance on 10/07/2008
    • Resistance on 10/06/2008
    • Support on 08/12/2008
    • Support on 08/11/2008
    • Support on 05/02/2008
    • Support on 05/01/2008
  • Ending of entry zone (0.7755)
    • Support on 01/02/2015
    • Support on 12/31/2014
    • Trough on 07/27/2012
    • Trough on 07/26/2012
    • Trough on 07/25/2012
    • Trough on 07/24/2012
    • Trough on 07/23/2012
    • Support on 07/23/2012

DateJanuary 11, 2015 - 08:35
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 0.7745 on 01/06/2015, so more gains to resistance(s) 0.7880, 0.7965, 0.8035 and more heights 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 43.

Take Profits:

  1. 0.7880
  2. 0.7965
  3. 0.8035
  4. 0.8080
  5. 0.8155
  6. 0.8195
  7. 0.8280
  8. 0.8350
  9. 0.8465
  10. 0.8500
  11. 0.8575
  12. 0.8640
  13. 0.8720
  14. 0.8815
  15. 0.8885
  16. 0.9045
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sat, 20 Feb 2021
Euro / British Pound (EURGBP) Sat, 13 Feb 2021
Euro / British Pound (EURGBP) Sat, 6 Feb 2021
Euro / British Pound (EURGBP) Sat, 30 Jan 2021
Euro / British Pound (EURGBP) Sat, 23 Jan 2021