Trading suggestion:

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

Midterm forecast:

• While the price is above the support 1.51280, beginning of uptrend is expected.
• We make sure when the resistance at 1.55660 breaks.
• If the support at 1.51280 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 1.52909 on 2021-11-25 and the trough at 1.5199247400131 on 2022-01-25, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
• While the RSI resistance #1 at 52 is not broken, the probability of price increase would be too low.
• A peak is formed in daily chart at 1.5430 on 01/14/2022, so more losses minimum to Major Support (1.5128) 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 40.

Take Profits:

1. 1.5499
2. 1.5650
3. 1.5766
4. 1.5841
5. 1.5960
6. 1.6010
7. 1.6100
8. 1.6250
9. 1.6440