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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trade Setup

#GBPCHF
Total Profit: 594 pip
Closed trade(s): 0 pip Profit
Open trade(s): 594 pip Profit

Trade Setup:
We opened 6 SELL trade(s) @ 1.2767 based on 'Uptrend Break Down' entry method at 2021.04.07.

Open Profit:
Profit for one trade is 1.2767(open price) - 1.2668(current price) = 99 pip
6 trade(s) still open, therefore total profit for open trade(s) is 99 x 6 = 594 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.
DateApril 11, 2021 - 00:20
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.30800, beginning of downtrend is expected.
  • We make sure when the support at 1.22200 breaks.
  • If the resistance at 1.30800 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.2894 on 2021-02-24 and the peak at 1.30725 on 2021-04-05, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.3075 on 04/05/2021, so more losses to support(s) 1.2575, 1.2475, 1.2325 and minimum to Major Support (1.2220) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 39.

Take Profits:

  1. 1.2575
  2. 1.2475
  3. 1.2325
  4. 1.2220
  5. 1.1600
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.