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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trade Setup
#GBPCHF
Total Profit: 4442 pip
Closed trade(s): 4442 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.1915 based on 'Hammer' at 2019.09.03 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.1940 touched at 2019.09.04 with 25 pip Profit.
TP2 @ 1.2075 touched at 2019.09.05 with 160 pip Profit.
TP3 @ 1.2220 touched at 2019.09.09 with 305 pip Profit.
TP4 @ 1.2475 touched at 2019.09.18 with 560 pip Profit.
TP5 @ 1.2685 touched at 2019.10.15 with 770 pip Profit.
TP6 @ 1.2915 touched at 2019.11.28 with 1000 pip Profit.
25 + 160 + 305 + 560 + 770 + 1000 = 2820 pip

Closed Profit:
Profit for one trade is 1.2726(current price) - 1.1915(open price) = 811 pip
2 trade(s) closed at market price as the major support is broken, therefore total profit will increase by 811 x 2 = 1622 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateDecember 22, 2019 - 15:46
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • The current trend is uptrend and the forecast is continuation of uptrend.

Technical analysis:

  • While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.3310 on 12/13/2019, so more losses to support(s) 1.2685, 1.2475, 1.2340 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.

Supports and Resistances:

  1. 1.3855
  2. 1.2915
  3. 1.2685
  4. 1.2475
  5. 1.2220
  6. 1.2075
  7. 1.1940
Click on the level to view price action history.