Midterm forecast:
While the price is above the support 0.7085, beginning of uptrend is expected.
We make sure when the resistance at 0.7380 breaks.
If the support at 0.7085 is broken, the short-term forecast -beginning of uptrend- will be invalid.
We will close our open trades, if the Midterm level 0.7085 is broken.
Technical analysis:
While the RSI downtrend...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.7155.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.72.
TP4: R2=0.724.
Set the stoploss of these orders at breakout of S2=0.7145.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Midterm forecast:
0.7160 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
Technical analysis:
While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.7160 on 10/17/2018, so more losses minimum to Buy Zone (0.7085 to 0.7020) is...
