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Weekly forecast British Pound / Singapore Dollar technical chart
Symbol GBPSGD

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Trade Setup
#GBPSGD
Total Profit: 4914 pip
Closed trade(s): 4914 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 1.7924 (day close price) based on 'Peak' at 2020.03.10.

Closed Profit:
TP1 @ 1.7860 touched at 2020.03.11 with 64 pip Profit.
TP2 @ 1.7625 touched at 2020.03.12 with 299 pip Profit.
TP3 @ 1.7430 touched at 2020.03.13 with 494 pip Profit.
TP4 @ 1.7230 touched at 2020.03.17 with 694 pip Profit.
TP5 @ 1.7105 touched at 2020.03.18 with 819 pip Profit.
TP6 @ 1.6895 touched at 2020.03.18 with 1029 pip Profit.
TP7 @ 1.6580 touched at 2020.03.18 with 1344 pip Profit.
64 + 299 + 494 + 694 + 819 + 1029 + 1344 = 4743 pip

Closed Profit:
Profit for one trade is 1.7924(open price) - 1.7753(current price) = 171 pip
1 trade(s) closed at market price as the major resistance is broken, therefore total profit will increase by 171 x 1 = 171 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMarch 28, 2020 - 19:31
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.74300, beginning of uptrend is expected.
  • We make sure when the resistance at 1.82750 breaks.
  • If the support at 1.74300 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.6515 on 03/20/2020, so more gains to resistance(s) 1.7860, 1.8030 and maximum to Major Resistance (1.8275) 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 57.

Supports and Resistances:

  1. 1.7860
  2. 1.7625
  3. 1.7430
  4. 1.7230
  5. 1.7105
  6. 1.6895
  7. 1.6580
Click on the level to view price action history.