Trading suggestion:

• We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

Midterm forecast:

• While the price is below the resistance 1.44767, beginning of downtrend is expected.
• We make sure when the support at 1.36500 breaks.
• If the resistance at 1.44767 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

• A trough is formed in daily chart at 1.41465 on 10/18/2022, so more gains to resistance(s) 1.40909, 1.41618, 1.42065 and maximum to Major Resistance (1.44767) 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 42.

Take Profits:

1. 1.43005
2. 1.42630
3. 1.42065
4. 1.41618
5. 1.40909
6. 1.39750
7. 1.39242
8. 1.38526
9. 1.37759
10. 1.36500
11. 1.35587