Trading suggestion:

Price is below the Trend Hunter Buy Zone (4.793 to 4.525).

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

• Beginning of entry zone (4.793)
• Ending of entry zone (4.525)

Midterm forecast:

• While the price is above the support 2.853, beginning of uptrend is expected.
• We make sure when the resistance at 3.745 breaks.
• If the support at 2.853 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

• The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
• A peak is formed in daily chart at 3.745 on 08/29/2023, so more losses minimum to Major Support (2.853) 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 51.

Take Profits:

1. 5.424
2. 5.779
3. 6.274
4. 6.816
5. 7.447
6. 8.678
7. 9.800
8. 15.350
9. 20.750
10. 24.700
11. 37.800
12. 57.092
13. 86.868
14. 125.008