Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.69406 to 1.68674). 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 (1.69406)
• Ending of entry zone (1.68674)

Midterm forecast:

• While the price is above the support 1.68674, beginning of uptrend is expected.
• We make sure when the resistance at 1.77888 breaks.
• If the support at 1.68674 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

• There is a divergence in RSI and price between the trough at 1.6994 on 2022-08-15 and the trough at 1.68948 on 2022-09-09, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
• The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
• A trough is formed in daily chart at 1.68958 on 09/09/2022, so more gains to resistance(s) 1.71345, 1.72611, 1.74305 and maximum to Major Resistance (1.77888) 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 52.

Take Profits:

1. 1.71345
2. 1.72611
3. 1.74305
4. 1.76387
5. 1.77888
6. 1.79830
7. 1.81515
8. 1.83859
9. 1.87528
10. 1.89575
11. 1.92135