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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup

#EURGBP
Total Profit: 2454 pip
Closed trade(s): 870 pip Profit
Open trade(s): 1584 pip Profit
_______________________________________________
Trade Setup:
We opened 15 SELL trade(s) @ 0.9120 (day close price) based on 'Two-Day Reversal Candle (Shooting Star)' at 2017.09.08 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 0.9045 touched at 2017.09.12 with 75 pip Profit.
TP2 @ 0.8930 touched at 2017.09.14 with 190 pip Profit.
TP3 @ 0.8850 touched at 2017.09.15 with 270 pip Profit.
TP4 @ 0.8785 touched at 2017.09.15 with 335 pip Profit.
75 + 190 + 270 + 335 = 870 pip

Open Profit:
Profit for one trade is 0.9120(open price) - 0.8976(current price) = 144 pip
11 trade(s) still open, therefore total profit for open trade(s) is 144 x 11 = 1584 pip
_______________________________________________

#EURGBP
Total Profit: -1933 pip
Closed trade(s): 14 pip Profit
Open trade(s): -1947 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:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

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) - 0.8976(current price) = -177 pip
11 trade(s) still open, therefore total profit for open trade(s) is -177 x 11 = -1947 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.9150 to 0.9305). 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 (0.9150)
    • Support on 09/01/2017
    • Resistance on 08/18/2017
    • 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
  • Ending of entry zone (0.9305)
    • Resistance on 08/29/2017
    • Peak on 08/29/2017
    • Resistance on 10/07/2016
    • Resistance on 10/11/2009
    • Resistance on 09/28/2009
    • Support on 03/26/2009
    • Support on 03/23/2009
    • Resistance on 03/13/2009

DateOctober 7, 2017 - 19:09
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 trough is formed in daily chart at 0.8745 on 09/27/2017, so more gains to resistance(s) 0.9045 and maximum to Trend Hunter Sell Zone (0.9150 to 0.9305) 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. 0.9045
  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) 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