Midterm forecast:
.There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 117.00 would begin in Midterm.
.Price may also reach 117.00, if price reaches this level, we may enter by Daily-Trading-Opportunities.
.We will close our open trades, if the Midterm level 117.00 is broken.
Trading suggestion:
.We have already opened Sell trades, trade setup is drawn on the chart and shows entry and targets.
.If the Midterm level 117.00 is broken, we will close these trades.
Technical analysis:
.A peak is formed in daily chart at 118.55 on Fri, 02/02/2018, so more losses to support(s) 113.40, 112.25 and more depths 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 50.
Take Profits:
TP1= @ 113.40
TP2= @ 112.25
TP3= @ 110.30
TP4= @ 108.35
TP5= @ 105.90
TP6= @ 104.15
TP7= @ 101.80
TP8= @ 100.00
TP9= @ Free