Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.05388 to 1.03265). 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 (1.05388)
• Ending of entry zone (1.03265)

Midterm forecast:

• While the price is above the support 1.03265, beginning of uptrend is expected.
• We make sure when the resistance at 1.17200 breaks.
• If the support at 1.03265 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

• While the RSI support #1 at 38 is not broken, the probability of price decrease would be too low.
• A peak is formed in daily chart at 1.16520 on 10/27/2022, so more losses to support(s) 1.12588, 1.10834, 1.08000 and minimum to Major Support (1.03265) 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. 1.10834
2. 1.12588
3. 1.15000
4. 1.17200
5. 1.19355
6. 1.22795
7. 1.26521
8. 1.29757
9. 1.31600
10. 1.36420
11. 1.42460
12. 1.45650
13. 1.48250