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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

Download MT4 template file

Trade Setup

#EURGBP
Total Profit: 1909 pip
Closed trade(s): 199 pip Profit
Open trade(s): 1710 pip Profit
_______________________________________________
Trade Setup:
We opened 12 SELL trade(s) @ 0.8657 (day close price) based on 'Two-Day Reversal Candle (Shooting Sta)' at 2017.03.29 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/EURGBP...

Closed Profit:
TP1 @ 0.8625 touched at 2017.03.30 with 32 pip Profit.
TP2 @ 0.8490 touched at 2017.03.31 with 167 pip Profit.
32 + 167 = 199 pip

Open Profit:
Profit for one trade is 0.8657(open price) - 0.8486(current price) = 171 pip
10 trade(s) still open, therefore total profit for open trade(s) is 171 x 10 = 1710 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.8725 to 0.8850). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (0.8725)
    • Resistance on 03/29/2017
    • Resistance on 03/21/2017
    • Resistance on 03/17/2017
    • Resistance on 03/14/2017
    • Resistance on 03/09/2017
    • Resistance on 01/12/2017
    • Resistance on 01/10/2017
    • Support on 10/04/2016
    • Resistance on 08/16/2016
    • Peak on 08/16/2016
    • Resistance on 08/07/2013
    • Resistance on 02/21/2013
    • Resistance on 02/20/2013
    • Resistance on 10/26/2011
    • Resistance on 10/25/2011
    • Resistance on 10/24/2011
    • Resistance on 10/21/2011
    • Resistance on 10/20/2011
    • Resistance on 10/10/2011
    • Resistance on 10/06/2011
    • Support on 09/23/2011
    • Support on 09/22/2011
    • Support on 09/16/2011
    • Resistance on 09/14/2011
    • Resistance on 09/09/2011
    • Support on 09/06/2011
    • Support on 08/24/2011
    • Resistance on 08/18/2011
    • Resistance on 08/05/2011
    • Resistance on 08/04/2011
    • Support on 08/01/2011
    • Support on 07/29/2011
    • Support on 07/18/2011
    • Support on 06/16/2011
  • Ending of entry zone (0.8850)
    • Peak on 01/16/2017
    • Resistance on 01/16/2017
    • Support on 11/04/2016
    • Support on 11/03/2016
    • Resistance on 10/06/2016
    • Resistance on 10/05/2016
    • Resistance on 09/08/2011
    • Resistance on 09/01/2011
    • Resistance on 08/10/2011
    • Resistance on 07/27/2011
    • Resistance on 07/26/2011
    • Resistance on 07/25/2011
    • Resistance on 07/22/2011
    • Support on 06/27/2011
    • Support on 06/23/2011
    • Support on 06/22/2011
    • Resistance on 06/20/2011
    • Resistance on 06/17/2011
    • Resistance on 06/14/2011
    • Support on 06/09/2011
    • Support on 06/03/2011
    • Resistance on 06/02/2011
    • Resistance on 05/19/2011
    • Resistance on 05/18/2011
    • Support on 05/02/2011
    • Support on 04/29/2011
    • Resistance on 04/25/2011
    • Resistance on 04/21/2011
    • Resistance on 04/20/2011
    • Resistance on 04/18/2011
    • Resistance on 04/11/2011
    • Resistance on 04/08/2011
    • Resistance on 04/01/2011
    • Resistance on 03/31/2011
    • Trough on 12/18/2009
    • Trough on 12/17/2009

DateApril 1, 2017 - 22:11
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

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

Technical analysis:

  • A peak is formed in daily chart at 0.8735 on 03/29/2017, so more losses to support(s) 0.8345, 0.8250, 0.8115 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 35.

Take Profits:

  1. 0.8625
  2. 0.8490
  3. 0.8345
  4. 0.8250
  5. 0.8115
  6. 0.8035
  7. 0.7920
  8. 0.7750
  9. 0.7590
  10. 0.7415
  11. 0.6935
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