Trading suggestion:

Price is in the Trend Hunter Buy Zone (2.219 to 2.060).

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

• Beginning of entry zone (2.219)
• Ending of entry zone (2.060)

Midterm forecast:

• While the price is above the support 1.800, continuation of uptrend is expected.
• We make sure when the resistance at 3.086 breaks.
• If the support at 1.800 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

• The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
• The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
• A trough is formed in daily chart at 1.800 on 05/31/2024, so more gains to resistance(s) 2.219, 2.467, 2.741 and maximum to Major Resistance (3.086) 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 50.

Take Profits:

1. 2.741
2. 3.086
3. 3.393
4. 3.842
5. 4.200