Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.39644 to 1.38792). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

• Beginning of entry zone (1.39644)
• Ending of entry zone (1.38792)

Midterm forecast:

• While the price is above the support 1.38792, resumption of uptrend is expected.
• We make sure when the resistance at 1.47000 breaks.
• If the support at 1.38792 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

• While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
• A trough is formed in daily chart at 1.42860 on 12/05/2022, so more gains to resistance(s) 1.45894 and maximum to Major Resistance (1.47000) 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 57.

Take Profits:

1. 1.42416
2. 1.43585
3. 1.44667
4. 1.45894
5. 1.48304
6. 1.49550
7. 1.51121
8. 1.52200
9. 1.54200