Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (90.970 to 92.122). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

• Beginning of entry zone (90.970)
• Ending of entry zone (92.122)

Midterm forecast:

• While the price is below the resistance 93.122, resumption of downtrend is expected.
• We make sure when the support at 85.904 breaks.
• If the resistance at 93.122 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

• The RSI downtrend #1 is broken, so the probability of resumption of downtrend is decreased.
• A peak is formed in daily chart at 91.797 on 01/09/2023, so more losses to support(s) 88.970, 87.359 and minimum to Major Support (85.904) 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 43.

Take Profits:

1. 88.970
2. 87.359
3. 85.904
4. 84.608
5. 82.032
6. 80.200
7. 78.795