Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.72402 to 1.73512). 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 (1.72402)
• Ending of entry zone (1.73512)

Midterm forecast:

• While the price is below the resistance 1.73512, beginning of downtrend is expected.
• We make sure when the support at 1.67680 breaks.
• If the resistance at 1.73512 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

• A peak is formed in daily chart at 1.71730 on 08/30/2023, so more losses minimum to Major Support (1.67680) 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 33.

Take Profits:

1. 1.70740
2. 1.69696
3. 1.67230
4. 1.65526
5. 1.63967
6. 1.62996
7. 1.60207
8. 1.58858
9. 1.57758