Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.11220 to 1.11650). 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 (1.11220)
• Ending of entry zone (1.11650)

Midterm forecast:

• While the price is below the resistance 1.11650, beginning of downtrend is expected.
• We make sure when the support at 1.07990 breaks.
• If the resistance at 1.11650 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

• A peak is formed in daily chart at 1.10940 on 07/08/2022, so more losses to support(s) 1.09957, 1.09190 and minimum to Major Support (1.07990) 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. 1.10940
2. 1.09957
3. 1.09190
4. 1.07990
5. 1.06977
6. 1.05978
7. 1.05090
8. 1.04492
9. 1.03220