It is a triangle configuration. Market should break either side. Acceleration should occur above 1.6163 or under 1.6079 limits.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point1.6064
  • Entry Point1.6114
  • Trendline 11.6079
  • Trendline 21.6089
  • Elliott1.6163
  • Closing1.6093
  • Ex-Low1.6079
  • Ex-High1.6163
  • Projection1.6068

Supports and Resistance levels

  • Support 11.6060
  • Support 21.6027
  • Resistance 11.6144
  • Resistance 21.6196
  • Pivot1.6112

One more dip to 1.6075 is likely followed by a grind higher to 1.6175. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    correction zigzag

Key Points

  • Key Point1.6079
  • Entry Point1.6127
  • Trendline 11.6198
  • Trendline 21.6127
  • Elliott1.6262
  • Closing1.6099
  • Ex-Low1.6051
  • Ex-High1.6189
  • Projection1.6042

Supports and Resistance levels

  • Support 11.6037
  • Support 21.5975
  • Resistance 11.6175
  • Resistance 21.6251
  • Pivot1.6113

While below 1.6181 - 1.6275 it is more likely to fall further towards 1.5998 or 1.5910. Premature rise above 1.6275 could see it rising above 1.6451 zone.

Technical Forecast

  • Elliott Wave

    irregular flat correction up

Key Points

  • Key Point1.6170
  • Entry Point1.6087
  • Trendline 11.5898
  • Trendline 21.6110
  • Elliott1.5685
  • Closing1.6099
  • Ex-Low1.5898
  • Ex-High1.6262
  • Projection1.6392

Supports and Resistance levels

  • Support 11.5910
  • Support 21.5722
  • Resistance 11.6275
  • Resistance 21.6451
  • Pivot1.6086