There are initial signs of a good corrective recovery towards 0.8389 or even 0.8399. Supports at 0.8362 and 0.8344 zone.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point0.8341
  • Entry Point0.8378
  • Trendline 10.8365
  • Trendline 20.8381
  • Elliott0.8414
  • Closing0.8364
  • Ex-Low0.8359
  • Ex-High0.8414
  • Projection0.8315

Supports and Resistance levels

  • Support 10.8344
  • Support 20.8324
  • Resistance 10.8399
  • Resistance 20.8434
  • Pivot0.8379

Support at 0.8471 or 0.8443 should hold. Then a correction to above 0.8585 is anticipated. A clear break of 0.8413 is again bearish.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point0.8448
  • Entry Point0.8455
  • Trendline 10.8492
  • Trendline 20.8518
  • Elliott0.8734
  • Closing0.8474
  • Ex-Low0.8468
  • Ex-High0.8554
  • Projection0.8333

Supports and Resistance levels

  • Support 10.8443
  • Support 20.8413
  • Resistance 10.8530
  • Resistance 20.8585
  • Pivot0.8499

It looks more likely that it would rise to 0.8687 - 0.8888 from 0.8486 or 0.8386. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point0.8335
  • Entry Point0.8561
  • Trendline 10.8486
  • Trendline 20.8569
  • Elliott0.8788
  • Closing0.8486
  • Ex-Low0.8486
  • Ex-High0.8788
  • Projection0.8403

Supports and Resistance levels

  • Support 10.8386
  • Support 20.8285
  • Resistance 10.8687
  • Resistance 20.8888
  • Pivot0.8587