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:

• The RSI downtrend #1 is broken, so the probability of resumption of downtrend is decreased.
• A peak is formed in daily chart at 1.66725 on 01/18/2024, so more losses to support(s) 1.64821, 1.63406, 1.62703 and minimum to Major Support (1.58528) 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 60.

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