Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.53500 to 1.52450). 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 (1.53500)
• Ending of entry zone (1.52450)

Midterm forecast:

• While the price is above the support 1.52450, beginning of uptrend is expected.
• We make sure when the resistance at 1.60016 breaks.
• If the support at 1.52450 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 1.5482 on 2022-06-14 and the trough at 1.53491 on 2022-07-22, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
• While the RSI downtrend #1 is not broken, bearish wave in price would continue.
• A trough is formed in daily chart at 1.53500 on 07/22/2022, so more gains to resistance(s) 1.56132, 1.57750 and maximum to Major Resistance (1.60016) 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 51.

Take Profits:

1. 1.56132
2. 1.57750
3. 1.60016
4. 1.61707
5. 1.65062
6. 1.66382
7. 1.69541
8. 1.73728
9. 1.76000
10. 1.80078