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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trade Setup
#EURGBP
Total Profit: 4208 pip
Closed trade(s): 4208 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 16 SELL trade(s) @ 0.9015 (day close price) based on 'Shooting star' at 2019.01.10 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 0.9005 touched at 2019.01.11 with 10 pip Profit.
TP2 @ 0.8965 touched at 2019.01.11 with 50 pip Profit.
TP3 @ 0.8930 touched at 2019.01.11 with 85 pip Profit.
TP4 @ 0.8895 touched at 2019.01.14 with 120 pip Profit.
TP5 @ 0.8850 touched at 2019.01.16 with 165 pip Profit.
TP6 @ 0.8795 touched at 2019.01.17 with 220 pip Profit.
TP7 @ 0.8725 touched at 2019.01.23 with 290 pip Profit.
TP8 @ 0.8685 touched at 2019.01.24 with 330 pip Profit.
TP9 @ 0.8620 touched at 2019.01.25 with 395 pip Profit.
TP10 @ 0.8530 touched at 2019.02.27 with 485 pip Profit.
10 + 50 + 85 + 120 + 165 + 220 + 290 + 330 + 395 + 485 = 2150 pip

Closed Profit:
Profit for one trade is 0.9015(open price) - 0.8672(current price) = 343 pip
6 trade(s) closed at market price as the major resistance is broken, therefore total profit will increase by 343 x 6 = 2058 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.9050 to 0.9100). 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 (0.9050)
    • Resistance on 05/05/2011
    • Resistance on 06/30/2011
    • Resistance on 07/01/2011
    • Resistance on 07/04/2011
    • Resistance on 07/05/2011
    • Resistance on 10/07/2016
    • Resistance on 10/10/2016
    • Resistance on 10/13/2016
    • Resistance on 10/14/2016
    • Resistance on 10/17/2016
    • Resistance on 11/01/2016
    • Resistance on 11/02/2016
    • Resistance on 08/03/2017
    • Resistance on 08/04/2017
    • Resistance on 08/07/2017
    • Resistance on 08/08/2017
    • Resistance on 08/09/2017
    • Support on 08/15/2017
    • Resistance on 09/14/2017
    • Resistance on 08/24/2018
    • Support on 08/28/2018
    • Resistance on 09/05/2018
    • Resistance on 12/10/2018
    • Resistance on 12/20/2018
    • Resistance on 12/21/2018
    • Resistance on 12/27/2018
    • Resistance on 12/28/2018
    • Resistance on 01/03/2019
    • Resistance on 01/10/2019
    • Resistance on 01/11/2019
  • Ending of entry zone (0.9100)
    • Resistance on 10/07/2016
    • Resistance on 08/11/2017
    • Resistance on 08/14/2017
    • Support on 08/17/2017
    • Support on 08/18/2017
    • Resistance on 08/28/2018
    • Resistance on 01/03/2019

DateMarch 23, 2019 - 17:57
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.86550 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of downtrend is decreased.
  • A peak is formed in daily chart at 0.8725 on 03/21/2019, so more losses to support(s) 0.8530, 0.8400, 0.8120 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 44.

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.

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