var tradingview_embed_options = {};
tradingview_embed_options.width = ‘640’;
tradingview_embed_options.height = ‘400’;
tradingview_embed_options.chart = ‘i46cGCoB’;
new TradingView.chart(tradingview_embed_options);
GBPCHF Weekly Forex Forecast 22nd October to 28th October by yshashmi37 on TradingView.com
Midterm forecast:
While the price is above the support 1.2745, beginning of uptrend is expected.
We make sure when the resistance at 1.3100 breaks.
If the support at 1.2745 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle.
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 60.
About the Author
