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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trade Setup
#GBPCHF
Total Profit: 710 pip
Closed trade(s): 66 pip Profit
Open trade(s): 644 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.1849 (day close price) based on 'Valleyr' at 2020.07.27 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.1915 touched at 2020.07.29 with 66 pip Profit.

Open Profit:
Profit for one trade is 1.1941(current price) - 1.1849(open price) = 92 pip
7 trade(s) still open, therefore total profit for open trade(s) is 92 x 7 = 644 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateAugust 1, 2020 - 19:47
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1.1100, beginning of uptrend is expected.
  • We make sure when the resistance at 1.2220 breaks.
  • If the support at 1.1100 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1.1745 on 07/24/2020, so more gains to resistance(s) 1.2025 and maximum to Major Resistance (1.2220) 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 58.

Take Profits:

  1. 1.1915
  2. 1.2025
  3. 1.2220
  4. 1.2475
  5. 1.2820
  6. 1.3055
  7. 1.3420
Click on the level to view price action history.

Symbol Released Current Forecast
British Pound / Swiss Franc (GBPCHF) Sat, 8 Aug 2020
British Pound / Swiss Franc (GBPCHF) free Sat, 1 Aug 2020
British Pound / Swiss Franc (GBPCHF) Sun, 26 Jul 2020
British Pound / Swiss Franc (GBPCHF) Sat, 18 Jul 2020
British Pound / Swiss Franc (GBPCHF) Sun, 12 Jul 2020