Technical analysis by mani00735 about Symbol USDT on 5/19/2024

The technical analysis of the dollar price The price of the dollar, which rose to 700,000 riyals last month at the height of the verbal clashes between Iran and Israel on the one hand and Israel's attack on Gaza on the other, and began to calm down to 57 percent of its value to the Iranian Riyal. The fall of the dollar from the price of 59,000 USD is important because for the first time since May 3, 2010, exactly four years ago, a very important channel floor support was broken and a new channel was broken. Experts are currently using the word price correction to lower the dollar, but obviously if the price is not returned in the next few days, we should use the word falling and wait for further price declines. Needless to say, there is no new economic event and there is no clear horizon, so it seems to be a cross -sectional decline, with the arrival of June and approaching the beginning of summer and increasing foreign trips and booming markets and traders in the dollar, reducing the price of foreign currencies. Therefore, given the technical conditions and regardless of the political possibilities of the dollar, the price of the dollar in the coming days is underway: If the reduction and failure of support continues to be reduced by 560,000 Rials, the price decline will continue to be around 530000 Rials. In the event of a resistance area of ​​560000 Rials and the price return in the first stage to 602,000 Rials and the next step to around 640000 Rials.