Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.315 to 1.250). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

• Beginning of entry zone (1.315)
• Ending of entry zone (1.250)

Midterm forecast:

• While the price is above the support 1.250, beginning of uptrend is expected.
• We make sure when the resistance at 1.715 breaks.
• If the support at 1.250 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

• While the RSI downtrend #1 is not broken, bearish wave in price would continue.
• A peak is formed in daily chart at 1.715 on 08/07/2023, so more losses to support(s) 1.315 and minimum to Major Support (1.250) 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 46.

Take Profits:

1. 1.485
2. 1.715
3. 2.200
4. 2.525
5. 3.000
6. 3.290
7. 4.235