Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.66703 to 1.67400). 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 (1.66703)
• Ending of entry zone (1.67400)

Midterm forecast:

• While the price is below the resistance 1.68339, beginning of downtrend is expected.
• We make sure when the support at 1.61467 breaks.
• If the resistance at 1.68339 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

• There is a divergence in RSI and price between the peak at 1.66725 on 2024-01-18 and the peak at 1.67439 on 2024-03-05, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
• The RSI support #1 at 47 is broken, so the probability of beginning of downtrend is increased.
• A peak is formed in daily chart at 1.66805 on 04/19/2024, so more losses to support(s) 1.64830, 1.63698, 1.62843 and minimum to Major Support (1.61467) 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 48.

Take Profits:

1. 1.65963
2. 1.64830
3. 1.63698
4. 1.62843
5. 1.61467
6. 1.58528
7. 1.55790
8. 1.52557