Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.12000 to 1.12552). 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 (1.12000)
• Ending of entry zone (1.12552)

Midterm forecast:

• While the price is below the resistance 1.14890, beginning of downtrend is expected.
• We make sure when the support at 1.10200 breaks.
• If the resistance at 1.14890 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

• The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
• A trough is formed in daily chart at 1.10205 on 10/24/2022, so more gains to resistance(s) 1.11102, 1.12000, 1.12552 and maximum to Major Resistance (1.14890) 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 40.

Take Profits:

1. 1.11102
2. 1.10200
3. 1.09190
4. 1.07990
5. 1.06977
6. 1.05978
7. 1.05090
8. 1.02806