Trading suggestion:

Price is below the Trend Hunter Buy Zone (1.06764 to 1.06233).

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

• Beginning of entry zone (1.06764)
• Ending of entry zone (1.06233)

Midterm forecast:

• While the price is above the support 1.04690, beginning of uptrend is expected.
• We make sure when the resistance at 1.10816 breaks.
• If the support at 1.04690 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

• While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low.
• A peak is formed in daily chart at 1.08315 on 01/23/2024, so more losses to support(s) 1.05579, 1.05156 and minimum to Major Support (1.04690) 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 32.

Take Profits:

1. 1.08379
2. 1.09190
3. 1.10136
4. 1.10816
5. 1.11750
6. 1.12550
7. 1.13635
8. 1.14891