One more dip to 1.6167 - 1.6138 is likely followed by a grind higher to 1.6220 - 1.6244. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    extended impulse wave down

Key Points

  • Key Point1.6169
  • Entry Point1.6206
  • Trendline 11.6255
  • Trendline 21.6224
  • Elliott1.6315
  • Closing1.6185
  • Ex-Low1.6149
  • Ex-High1.6255
  • Projection1.6146

Supports and Resistance levels

  • Support 11.6138
  • Support 21.6090
  • Resistance 11.6244
  • Resistance 21.6302
  • Pivot1.6196

Current upmove should end around 1.6321 - 1.6330 area. A correction down to 1.6222 or even 1.6160 is expected. A rise above 1.6376 will abort the expected correction.

Technical Forecast

  • Elliott Wave

    flat correction up

Key Points

  • Key Point1.6326
  • Entry Point1.6295
  • Trendline 11.6276
  • Trendline 21.6284
  • Elliott1.5976
  • Closing1.6283
  • Ex-Low1.6207
  • Ex-High1.6315
  • Projection1.6433

Supports and Resistance levels

  • Support 11.6222
  • Support 21.6160
  • Resistance 11.6330
  • Resistance 21.6376
  • Pivot1.6268

It should be subject to more sell off towards 1.6130 or 1.6065. Corrective upward swings should face resistance around 1.6550 area. A break of 1.6540 is bullish.

Technical Forecast

  • Elliott Wave

    common flat correction up

Key Points

  • Key Point1.6416
  • Entry Point1.6196
  • Trendline 11.6323
  • Trendline 21.6213
  • Elliott1.5976
  • Closing1.6283
  • Ex-Low1.5976
  • Ex-High1.6323
  • Projection1.6433

Supports and Resistance levels

  • Support 11.6065
  • Support 21.5847
  • Resistance 11.6412
  • Resistance 21.6540
  • Pivot1.6194