Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.6856 to 1.6711). 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 (1.6856)
• Ending of entry zone (1.6711)

Midterm forecast:

• While the price is above the support 1.66000, resumption of uptrend is expected.
• We make sure when the resistance at 1.76000 breaks.
• If the support at 1.66000 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

• There is a divergence in RSI and price between the trough at 1.689032 on 2021-10-15 and the trough at 1.664411 on 2021-12-08, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
• The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
• A trough is formed in daily chart at 1.6638 on 12/08/2021, so more gains to resistance(s) 1.7167, 1.7262, 1.7423 and maximum to Major Resistance (1.7600) 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 62.

Take Profits:

1. 1.7167
2. 1.7262
3. 1.7423
4. 1.7600
5. 1.7874