Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.21397 to 1.20767). 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 (1.21397)
• Ending of entry zone (1.20767)

Midterm forecast:

• While the price is above the support 1.20767, beginning of uptrend is expected.
• We make sure when the resistance at 1.25736 breaks.
• If the support at 1.20767 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 1.21197 on 2022-03-04 and the trough at 1.20729 on 2022-04-27, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
• A peak is formed in daily chart at 1.24425 on 05/17/2022, so more losses to support(s) 1.21397 and minimum to Major Support (1.20767) 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 48.

Take Profits:

1. 1.23250
2. 1.24640
3. 1.25736
4. 1.27349
5. 1.28099
6. 1.30366
7. 1.34200