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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup

#EURGBP
Total Profit: 720 pip
Closed trade(s): 720 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 6 BUY trade(s) @ 0.8798 (day close price) based on 'Trough' at 2018.04.27 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 0.8850 touched at 2018.06.28 with 52 pip Profit.
TP2 @ 0.8930 touched at 2018.07.18 with 132 pip Profit.
52 + 132 = 184 pip

Closed Profit:
Profit for one trade is 0.8932(current price) - 0.8798(open price) = 134 pip
4 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 134 x 4 = 536 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 0.88500 is broken, we will close open trades.
DateAugust 12, 2018 - 18:10
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.91500, beginning of downtrend is expected.
  • We make sure when the support at 0.88500 breaks.
  • If the resistance at 0.91500 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.88500 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 55.

Take Profits:

  1. 0.8930
  2. 0.8895
  3. 0.8850
  4. 0.8810
  5. 0.8725
  6. 0.8620
  7. 0.8400
  8. 0.8120
  9. 0.7840
  10. 0.7495
  11. 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.