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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup
#EURGBP
Total Profit: 2496 pip
Closed trade(s): 626 pip Profit
Open trade(s): 1870 pip Profit

Trade Setup:
We opened 16 SELL trade(s) @ 0.9011 (day close price) based on 'Hammer' at 2019.01.03 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 0.9005 touched at 2019.01.04 with 6 pip Profit.
TP2 @ 0.8965 touched at 2019.01.04 with 46 pip Profit.
TP3 @ 0.8930 touched at 2019.01.11 with 81 pip Profit.
TP4 @ 0.8895 touched at 2019.01.14 with 116 pip Profit.
TP5 @ 0.8850 touched at 2019.01.16 with 161 pip Profit.
TP6 @ 0.8795 touched at 2019.01.17 with 216 pip Profit.
6 + 46 + 81 + 116 + 161 + 216 = 626 pip

Open Profit:
Profit for one trade is 0.9011(open price) - 0.8824(current price) = 187 pip
10 trade(s) still open, therefore total profit for open trade(s) is 187 x 10 = 1870 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 0.89300 is broken, we will close open trades.

DateJanuary 19, 2019 - 13:51
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.89300 would begin in Midterm.
  • We will close our open trades, if the Midterm level 0.89300 is broken.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 0.9060 on 01/11/2019, so more losses to support(s) 0.8795, 0.8725, 0.8685 and more depths is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 39.

Take Profits:

  1. 0.9005
  2. 0.8965
  3. 0.8930
  4. 0.8895
  5. 0.8850
  6. 0.8795
  7. 0.8725
  8. 0.8685
  9. 0.8620
  10. 0.8530
  11. 0.8400
  12. 0.8120
  13. 0.7840
  14. 0.7495
  15. 0.6935
Click on the level to view price action history.

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