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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.2515 to 1.2190). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.2515)
    • Support on 11/23/2016
    • Resistance on 11/18/2016
    • Resistance on 11/17/2016
    • Resistance on 11/16/2016
    • Resistance on 11/15/2016
    • Resistance on 11/14/2016
    • Resistance on 11/11/2016
    • Support on 09/30/2016
    • Support on 09/29/2016
    • Support on 09/27/2016
    • Support on 09/26/2016
    • Support on 08/19/2016
    • Support on 08/18/2016
    • Support on 08/17/2016
    • Support on 08/16/2016
    • Support on 08/15/2016
    • Trough on 07/07/2016
    • Trough on 07/06/2016
    • Support on 07/06/2016
  • Ending of entry zone (1.2190)
    • Support on 11/10/2016
    • Resistance on 11/07/2016
    • Resistance on 10/27/2016
    • Resistance on 10/25/2016
    • Resistance on 10/21/2016
    • Resistance on 10/19/2016
    • Resistance on 10/18/2016
    • Resistance on 10/12/2016
    • Support on 01/15/2015
    • Support on 08/12/2011
    • Support on 08/10/2011

DateDecember 4, 2016 - 09:31
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 1.1955 on 11/16/2016, so more gains to resistance(s) 1.2865, 1.3110, 1.3200 and more heights 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 73.

Take Profits:

  1. 1.2740
  2. 1.2865
  3. 1.3110
  4. 1.3200
  5. 1.3410
  6. 1.3725
  7. 1.4030
  8. 1.4200
  9. 1.4410
  10. 1.4555
  11. 1.4805
  12. 1.5110
  13. 1.5535
  14. 1.6005
Click on the level to view price action history.