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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trade Setup

#GBPCHF
Total Profit: 550 pip
Closed trade(s): 0 pip Profit
Open trade(s): 550 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 1.3404 (day close price) based on 'Two-day reversal candle (Shooting Star)' at 2018.03.29 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Open Profit:
Profit for one trade is 1.3404(open price) - 1.3354(current price) = 50 pip
11 trade(s) still open, therefore total profit for open trade(s) is 50 x 11 = 550 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.

DateMarch 31, 2018 - 21:02
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.34900 would begin in Midterm.

Technical analysis:

  • A peak is formed in daily chart at 1.3485 on 03/28/2018, so more losses to support(s) 1.3320, 1.3190, 1.3105 and more depths 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. 1.3320
  2. 1.3190
  3. 1.3105
  4. 1.3000
  5. 1.2865
  6. 1.2745
  7. 1.2645
  8. 1.2470
  9. 1.2220
  10. 1.1900
Click on the level to view price action history.