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 1.66000, resumption of downtrend is expected.
• We make sure when the support at 1.57350 breaks.
• If the resistance at 1.66000 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

• While the RSI resistance #1 at 42 is not broken, the probability of price increase would be too low.
• A peak is formed in daily chart at 1.60900 on 05/10/2022, so more losses minimum to Major Support (1.57350) 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 33.

Supports and Resistances:

1. 1.76000
2. 1.74227
3. 1.72630
4. 1.71670