Monthly chart

On the monthly time frame, there is a strong bearish trend and it is hard for the price to break it because it has followed this trend more than once. It is possible that it will rebound from it during the coming weeks, and the trend line meets a strong supply area that may make the price fall from the current levels.

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Points of interest (POI)

Sell from: 1.1127 (amid the momentum movement)

TP 1: 1.1050

TP 2: 1.0950 (until the bullish OB)

Stop loss: 1.1140 (above the bearish OB)