While the price is below the resistance 0.9990, beginning of downtrend is expected.
We make sure when the support at 0.9650 breaks.
If the resistance at 0.9990 is broken, the short-term forecast -beginning of downtrend- will be invalid.
There is a divergence in and price between the peak at 0.9899 on 2021-01-06 and the peak at 0.9989 on 2021-02-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
While the uptrend #1 is not broken, wave in price would continue.
A peak is formed in at 0.9990 on 02/22/2021, so more losses to support(s) 0.9775, 0.9715 and minimum to Major Support (0.9650) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
( ) is 46.
There is possibility of temporary retracement to suggested Sell Zone (0.9990 to 0.9900). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
. Beginning of entry zone (0.9990)
. Ending of entry zone (0.9900)
TP1 @ 0.9775
TP2 @ 0.9715
TP3 @ 0.9650
TP4 @ 0.9540
TP5 @ 0.9430
TP6 @ 0.9255
TP7 @ 0.9065
TP8 = Free
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