Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.52753 to 1.53564). 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 (1.52753)
• Ending of entry zone (1.53564)

Midterm forecast:

• While the price is below the resistance 1.53564, resumption of downtrend is expected.
• We make sure when the support at 1.43000 breaks.
• If the resistance at 1.53564 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

• A trough is formed in daily chart at 1.48620 on 06/16/2022, so more gains to resistance(s) 1.52753 and maximum to Major Resistance (1.53564) 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 55.

Take Profits:

1. 1.50562
2. 1.48594
3. 1.46150
4. 1.43000
5. 1.40735
6. 1.36750