Analysis:



1. Target and Prices



• Main Target: The 1.7999 level is the resistance point corresponding to the Fibonacci 0 level. A movement towards this level means that the uptrend will continue.


• Intermediate Target: Fibonacci 0.12 resistance at 1.6089 can be monitored as an important control level.



2. Support and Resistance Levels



• Support Levels:


• The 1.4244 level is observed as a strong support at the Fibonacci 0.236 level.


• As a stronger support, attention should be paid to the 1.2086 level (Fibonacci 1 level).


• Resistance Levels:


• The 1.6089 level is the first resistance to be considered in upward movements.


• The 1.7999 level can be targeted as a strong resistance zone.



3. Indicators



• Fibonacci Retracement Levels: Fibonacci levels on the chart indicate important support and resistance levels. These levels can act as strong areas that support price movements.


• Volume: Volume analysis is important to observe how price reacts in support or resistance areas.



4. Formations and Formation Reversals



• Hold Above Support Level: If the price stays above the major support level, an upward move is likely to continue.


• Fibonacci Retracement: Price reaction from 0.236 and 0.382 levels may confirm bullish momentum.



5. Trend Direction



• Short-Term Trend: Horizontal movements and a search for reaction in support areas are observed.


• Medium and Long Term Trend: In general, an upward trend is observed. However, the loss of support levels may indicate that this trend may weaken.



6. Strategy Proposal



• Buying Strategy: If the price finds support at 1.4244 and stays above this level, buying opportunities can be evaluated. The first target could be 1.6089, then 1.7999.


• Profit Taking: Partial profit taking can be considered at 1.6089. For further increases, the price must exceed this level.


• Stop Loss: Risk management should be done by placing a stop loss order below the level of 1.2086.



Comment



On the chart, strong support and resistance levels and important Fibonacci retracement points are noticeable. How the price reacts at the support levels will be critical for the continuation of the trend. Looking for positive volume support for upward movements is important for a safe entry.