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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trade Setup

#GBPCHF
Total Profit: 1168 pip
Closed trade(s): 1168 pip Profit
Open trade(s): 0 pip Profit
_______________________________________________
Trade Setup:
We opened 13 BUY trade(s) @ 1.2388 (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 82 pip Profit.
TP2 @ 1.2645 touched at 2017.04.18 with 257 pip Profit.
TP3 @ 1.2740 touched at 2017.04.18 with 352 pip Profit.
TP4 @ 1.2865 touched at 2017.04.28 with 477 pip Profit.
82 + 257 + 352 + 477 = 1168 pip

9 other break-even trades closed at entry price, therefore no profit no loss.
_______________________________________________

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 06/09/2017
    • 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

DateJune 10, 2017 - 20:49
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:

  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 35.

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.