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 1.70671, resumption of downtrend is expected.
• We make sure when the support at 1.58528 breaks.
• If the resistance at 1.70671 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

• While the RSI downtrend #1 is not broken, bearish wave in price would continue.
• A trough is formed in daily chart at 1.61275 on 01/02/2024, so more gains to resistance(s) 1.63406, 1.64821, 1.65899 and maximum to Major Resistance (1.70671) 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 47.

Supports and Resistances:

1. 1.67936
2. 1.65899
3. 1.64821
4. 1.63406
5. 1.62703
6. 1.61467
7. 1.58528
8. 1.55790
9. 1.52557
10. 1.47193
11. 1.43091