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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup

#EURGBP
Total Profit: 1317 pip
Closed trade(s): 201 pip Profit
Open trade(s): 1116 pip Profit

Trade Setup:
We opened 12 SELL trade(s) @ 0.8857 (day close price) based on 'Peak & Two-day reversal candle' at 2018.10.31 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 0.8850 touched at 2018.11.01 with 7 pip Profit.
TP2 @ 0.8795 touched at 2018.11.01 with 62 pip Profit.
TP3 @ 0.8725 touched at 2018.11.06 with 132 pip Profit.
7 + 62 + 132 = 201 pip

Open Profit:
Profit for one trade is 0.8857(open price) - 0.8733(current price) = 124 pip
9 trade(s) still open, therefore total profit for open trade(s) is 124 x 9 = 1116 pip

Trading suggestion:

  • We have already opened Sell 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.

DateNovember 10, 2018 - 19:21
Currentdowntrend
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 0.88500, resumption of downtrend is expected.
  • We make sure when the support at 0.86200 breaks.
  • If the resistance at 0.88500 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.88500 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Take Profits:

  1. 0.8850
  2. 0.8795
  3. 0.8725
  4. 0.8685
  5. 0.8620
  6. 0.8530
  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) 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