Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.18241 to 1.17590). 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 (1.18241)
• Ending of entry zone (1.17590)

Midterm forecast:

• While the price is above the support 1.17590, beginning of uptrend is expected.
• We make sure when the resistance at 1.21611 breaks.
• If the support at 1.17590 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 1.21644 on 2022-05-12 and the trough at 1.17592 on 2022-07-14, 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 1.17590 on 07/14/2022, so more gains to resistance(s) 1.20576 and maximum to Major Resistance (1.21611) 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 46.

Take Profits:

1. 1.19355
2. 1.20576
3. 1.21611
4. 1.23244
5. 1.24561
6. 1.26521
7. 1.28201
8. 1.29757
9. 1.31600
10. 1.36420
11. 1.42460
12. 1.45650
13. 1.48250