Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.11750 to 1.12550). 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 (1.11750)
• Ending of entry zone (1.12550)

Midterm forecast:

• While the price is below the resistance 1.14891, continuation of downtrend is expected.
• We make sure when the support at 1.07936 breaks.
• If the resistance at 1.14891 is broken, the short-term forecast -continuation of downtrend- will be invalid.

Technical analysis:

• A peak is formed in daily chart at 1.11740 on 10/26/2022, so more losses to support(s) 1.08546 and minimum to Major Support (1.07936) 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 31.

Take Profits:

1. 1.11146
2. 1.09880
3. 1.09190
4. 1.07936
5. 1.07106
6. 1.05978
7. 1.05090
8. 1.04492
9. 1.03479