Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.80719 to 1.81445). 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 (1.80719)
• Ending of entry zone (1.81445)

Midterm forecast:

• While the price is below the resistance 1.81445, beginning of downtrend is expected.
• We make sure when the support at 1.76819 breaks.
• If the resistance at 1.81445 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 1.78511 on 2024-07-24 and the peak at 1.81445 on 2024-09-30, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
• While the RSI uptrend #1 is not broken, bullish wave in price would continue.
• A trough is formed in daily chart at 1.77180 on 10/03/2024, so more gains to resistance(s) 1.80719 and maximum to Major Resistance (1.81445) 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 51.

Take Profits:

1. 1.78709
2. 1.76819
3. 1.75765
4. 1.74166
5. 1.72705
6. 1.70900
7. 1.69267
8. 1.67670
9. 1.65599
10. 1.63703
11. 1.60894