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There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.2475 to 1.2420). 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 (1.2475)
- Ending of entry zone (1.2420)
- While the price is above the support 1.2300, beginning of uptrend is expected.
- We make sure when the resistance at 1.2865 breaks.
- If the support at 1.2300 is broken, the short-term forecast -beginning of uptrend- will be invalid.
- There is a divergence in RSI and price between the trough at 1.26045 on 2019-05-23 and the trough at 1.24385 on 2019-07-09, 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 peak is formed in daily chart at 1.2780 on 06/25/2019, so more losses to support(s) 1.2560, 1.2475, 1.2420 and minimum to Major Support (1.2300) 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 45.
Click on the level to view price action history.