Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.56479 to 0.56049). 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 (0.56479)
• Ending of entry zone (0.56049)

Midterm forecast:

• While the price is above the support 0.58605, resumption of uptrend is expected.
• We make sure when the resistance at 0.61684 breaks.
• If the support at 0.58605 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

• The RSI support #1 at 44 is broken, so the probability of resumption of uptrend is decreased.
• A peak is formed in daily chart at 0.60985 on 05/20/2024, so more losses minimum to Major Support (0.58605) 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 35.

Take Profits:

1. 0.57374
2. 0.57819
3. 0.58605
4. 0.59233
5. 0.60004
6. 0.61684
7. 0.63194
8. 0.65641
9. 0.67477
10. 0.68956