There are initial signs of a good corrective recovery towards 1.0590 or even 1.0603. Supports at 1.0553 and 1.0529 zone.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point1.0521
  • Entry Point1.0573
  • Trendline 11.0551
  • Trendline 21.0591
  • Elliott1.0625
  • Closing1.0555
  • Ex-Low1.0551
  • Ex-High1.0625
  • Projection1.0511

Supports and Resistance levels

  • Support 11.0529
  • Support 21.0503
  • Resistance 11.0603
  • Resistance 21.0651
  • Pivot1.0577

It should be subject to more sell off towards 1.0376 or 1.0222. Corrective upward swings should face resistance around 1.0636 area. A break of 1.0768 is bullish.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.0578
  • Entry Point1.0590
  • Trendline 11.0614
  • Trendline 21.0588
  • Elliott1.0639
  • Closing1.0530
  • Ex-Low1.0341
  • Ex-High1.0614
  • Projection1.0462

Supports and Resistance levels

  • Support 11.0376
  • Support 21.0222
  • Resistance 11.0649
  • Resistance 21.0768
  • Pivot1.0495

It is likely to fall towards 1.0441 - 1.0297 as its corrective rally could falter in 1.0702 - 1.0818 area. Stop above 1.1107 zone.

Technical Forecast

  • Elliott Wave

    common flat resistance in downtrend

Key Points

  • Key Point1.0466
  • Entry Point1.0647
  • Trendline 11.1017
  • Trendline 21.0690
  • Elliott1.1366
  • Closing1.0530
  • Ex-Low1.0352
  • Ex-High1.0874
  • Projection1.0240

Supports and Resistance levels

  • Support 11.0297
  • Support 21.0064
  • Resistance 11.0818
  • Resistance 21.1107
  • Pivot1.0585