Trading suggestion:

• By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

Midterm forecast:

• While the price is below the resistance 1.08546, resumption of downtrend is expected.
• We make sure when the support at 1.04690 breaks.
• If the resistance at 1.08546 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

• While the RSI resistance #1 at 52 is not broken, the probability of price increase would be too low.
• A trough is formed in daily chart at 1.04690 on 12/16/2022, so more gains to resistance(s) 1.07500 and maximum to Major Resistance (1.08546) is expected.
• Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
• Relative strength index (RSI) is 50.

Supports and Resistances:

1. 1.40000
2. 1.13635
3. 1.11118
4. 1.09880
5. 1.09190
6. 1.07500
7. 1.06383
8. 1.05201
9. 1.03479