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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup

#EURGBP
Total Profit: 416 pip
Closed trade(s): 0 pip Profit
Open trade(s): 416 pip Profit
_______________________________________________
Trade Setup:
We opened 13 SELL trade(s) @ 0.8799 (day close price) based on 'Two-Day Reversal Candle (Shooting Star)' at 2017.06.28 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/EURGBP...

Open Profit:
Profit for one trade is 0.8799(open price) - 0.8767(current price) = 32 pip
13 trade(s) still open, therefore total profit for open trade(s) is 32 x 13 = 416 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.8785 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 (0.8785)
    • Support on 06/29/2017
    • Support on 06/28/2017
    • Support on 06/27/2017
    • Support on 06/26/2017
    • Support on 06/23/2017
    • Support on 06/22/2017
    • Support on 06/21/2017
    • Support on 06/14/2017
    • Support on 06/13/2017
    • Support on 06/12/2017
    • Resistance on 06/09/2017
    • Resistance on 03/14/2017
    • Peak on 03/13/2017
    • Resistance on 03/13/2017
    • Trough on 04/16/2009
    • Trough on 04/15/2009
  • Ending of entry zone (0.8850)
    • Resistance on 06/28/2017
    • Resistance on 06/27/2017
    • Resistance on 06/21/2017
    • Resistance on 06/13/2017
    • Resistance on 06/12/2017
    • Resistance on 06/09/2017
    • 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

DateJuly 2, 2017 - 16:31
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 0.8880 on 06/28/2017, so more losses to support(s) 0.8725, 0.8625, 0.8490 and more depths 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 53.

Take Profits:

  1. 0.8725
  2. 0.8625
  3. 0.8490
  4. 0.8345
  5. 0.8250
  6. 0.8115
  7. 0.8035
  8. 0.7920
  9. 0.7750
  10. 0.7590
  11. 0.7415
  12. 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