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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup

#EURGBP
Total Profit: -3121 pip
Closed trade(s): 14 pip Profit
Open trade(s): -3135 pip Profit
_______________________________________________
Trade Setup:
We opened 12 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...

Closed Profit:
TP1 @ 0.8785 touched at 2017.06.29 with 14 pip Profit.

Open Profit:
Profit for one trade is 0.8799(open price) - 0.9084(current price) = -285 pip
11 trade(s) still open, therefore total profit for open trade(s) is -285 x 11 = -3135 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.9085 to 0.9150). 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 (0.9085)
    • Resistance on 08/11/2017
    • Resistance on 08/08/2017
    • Resistance on 10/13/2016
    • Resistance on 10/07/2016
    • Peak on 07/07/2011
    • Peak on 07/06/2011
    • Peak on 07/05/2011
    • Peak on 07/04/2011
    • Peak on 07/01/2011
  • Ending of entry zone (0.9150)
    • Resistance on 10/12/2016
    • Resistance on 09/24/2015
    • Resistance on 03/01/2010
    • Resistance on 12/01/2009
    • Resistance on 11/30/2009
DateAugust 13, 2017 - 17:55
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • The current trend is uptrend but the forecast is beginning of downtrend.

Technical analysis:

  • A trough is formed in daily chart at 0.8740 on 07/14/2017, so more gains maximum to Trend Hunter Sell Zone (0.9085 to 0.9150) 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 71.

Take Profits:

  1. 0.8995
  2. 0.8930
  3. 0.8850
  4. 0.8785
  5. 0.8725
  6. 0.8625
  7. 0.8490
  8. 0.8345
  9. 0.8250
  10. 0.8115
  11. 0.7750
  12. 0.7590
  13. 0.7415
  14. 0.6935
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sun, 14 Apr 2024
Euro / British Pound (EURGBP) Sat, 6 Apr 2024
Euro / British Pound (EURGBP) Sat, 30 Mar 2024
Euro / British Pound (EURGBP) Sat, 23 Mar 2024
Euro / British Pound (EURGBP) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURGBP.