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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trade Setup
#GBPCHF
Total Profit: -684 pip
Closed trade(s): 0 pip Profit
Open trade(s): -684 pip Profit

Trade Setup:
We opened 6 SELL trade(s) @ 1.2604 (day close price) based on 'Peak' at 2020.01.13 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Open Profit:
Profit for one trade is 1.2604(open price) - 1.2718(current price) = -114 pip
6 trade(s) still open, therefore total profit for open trade(s) is -114 x 6 = -684 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.

DateFebruary 1, 2020 - 19:43
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.34200, beginning of downtrend is expected.
  • We make sure when the support at 1.24750 breaks.
  • If the resistance at 1.34200 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.2530 on 01/15/2020, so more gains to resistance(s) 1.2790, 1.2890, 1.3055 and maximum to Major Resistance (1.3420) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

Take Profits:

  1. 1.2475
  2. 1.2300
  3. 1.2090
  4. 1.1940
  5. 1.1670
Click on the level to view price action history.