Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.64952 to 1.64140). 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 (1.64952)
• Ending of entry zone (1.64140)

Midterm forecast:

• While the price is above the support 1.64140, resumption of uptrend is expected.
• We make sure when the resistance at 1.71860 breaks.
• If the support at 1.64140 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

• While the RSI uptrend #1 is not broken, bullish wave in price would continue.
• A peak is formed in daily chart at 1.71855 on 08/05/2024, so more losses to support(s) 1.65963, 1.64952 and minimum to Major Support (1.64140) 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 59.

Take Profits:

1. 1.65963
2. 1.66703
3. 1.67400
4. 1.68339
5. 1.70671
6. 1.72746
7. 1.78150