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 1.44483, resumption of downtrend is expected.
• We make sure when the support at 1.39560 breaks.
• If the resistance at 1.44483 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

• While the RSI resistance #1 at 56 is not broken, the probability of price increase would be too low.
• A trough is formed in daily chart at 1.39560 on 07/14/2022, so more gains maximum to Major Resistance (1.44483) 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 40.

Supports and Resistances:

1. 1.62824
2. 1.61170
3. 1.58733
4. 1.55660
5. 1.54010
6. 1.52493
7. 1.50369
8. 1.48821
9. 1.47333