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 above the support 1.61299, resumption of uptrend is expected.
• We make sure when the resistance at 1.63041 breaks.
• If the support at 1.61299 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

• While the RSI downtrend #1 is not broken, bearish wave in price would continue.
• A peak is formed in daily chart at 1.64181 on 06/07/2024, so more losses to support(s) 1.61764 and minimum to Major Support (1.61299) 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 37.

Supports and Resistances:

1. 1.78150
2. 1.72746
3. 1.70671
4. 1.68339
5. 1.67400
6. 1.66703
7. 1.65963
8. 1.64952
9. 1.63698
10. 1.63041
11. 1.62201
12. 1.61764
13. 1.58528
14. 1.55790
15. 1.52557