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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF
Trade Setup

#GBPCHF
Total Profit: -288 pip
Closed trade(s): 83 pip Profit
Open trade(s): -371 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.2242 based on 'Valleyr' at 2022.04.29.

Closed Profit:
TP1 @ 1.2325 touched at 2022.05.16 with 83 pip Profit.

Open Profit:
Profit for one trade is 1.2189(current price) - 1.2242(open price) = -53 pip
7 trade(s) still open, therefore total profit for open trade(s) is -53 x 7 = -371 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateMay 15, 2022 - 20:11
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.20767, beginning of uptrend is expected.
  • We make sure when the resistance at 1.25736 breaks.
  • If the support at 1.20767 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.21197 on 2022-03-04 and the trough at 1.20729 on 2022-04-27, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.21205 on 05/12/2022, so more gains to resistance(s) 1.23250, 1.24640 and maximum to Major Resistance (1.25736) 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 53.

Take Profits:

  1. 1.23250
  2. 1.24640
  3. 1.25736
  4. 1.27349
  5. 1.28099
  6. 1.30366
  7. 1.34200
Click on the level to view price action history.