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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trade Setup

#GBPCHF
Total Profit: 1176 pip
Closed trade(s): 84 pip Profit
Open trade(s): 1092 pip Profit
_______________________________________________
Trade Setup:
We opened 13 BUY trade(s) @ 1.2386 (day close price) based on 'Two-Day Reversal Candle (Hammer)' at 2017.03.29 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/GBPCHF...

Closed Profit:
TP1 @ 1.2470 touched at 2017.03.30 with 84 pip Profit.

Open Profit:
Profit for one trade is 1.2477(current price) - 1.2386(open price) = 91 pip
12 trade(s) still open, therefore total profit for open trade(s) is 91 x 12 = 1092 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.2340 to 1.2210). 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 (1.2340)
    • Support on 03/29/2017
    • Support on 03/28/2017
    • Support on 03/27/2017
    • Resistance on 03/16/2017
    • Resistance on 03/15/2017
    • Support on 03/08/2017
    • Support on 03/07/2017
    • Support on 03/03/2017
    • Support on 02/07/2017
    • Support on 02/06/2017
    • Support on 01/31/2017
    • Support on 01/19/2017
    • Support on 01/18/2017
    • Support on 01/11/2017
    • Support on 01/10/2017
    • Support on 01/09/2017
    • Support on 12/30/2016
    • Support on 11/15/2016
  • Ending of entry zone (1.2210)
    • Support on 03/16/2017
    • Trough on 03/14/2017
    • Support on 03/14/2017
    • Resistance on 01/16/2017
    • Support on 01/13/2017
    • Support on 11/10/2016
    • Resistance on 11/09/2016
    • Peak on 10/25/2016
    • Resistance on 10/25/2016
DateApril 8, 2017 - 11:25
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 1.2435 on 04/04/2017, so more gains to resistance(s) 1.2645, 1.2740, 1.2865 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 54.

Take Profits:

  1. 1.2470
  2. 1.2645
  3. 1.2740
  4. 1.2865
  5. 1.3110
  6. 1.3410
  7. 1.3725
  8. 1.4200
  9. 1.4555
  10. 1.4805
  11. 1.5535
  12. 1.6005
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Swiss Franc (GBPCHF) Sun, 14 Apr 2024
British Pound / Swiss Franc (GBPCHF) Sun, 7 Apr 2024
British Pound / Swiss Franc (GBPCHF) Sat, 30 Mar 2024
British Pound / Swiss Franc (GBPCHF) Sun, 24 Mar 2024
British Pound / Swiss Franc (GBPCHF) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPCHF.