Market should hold major support at 1.6031 before rising towards 1.6208 or even 1.6269 limit.

Technical Forecast

  • Elliott Wave

    zigzag or flat correction 1.6269

  • Trend Warning

    Warning: End of trend

Key Points

  • Key Point1.6213
  • Entry Point1.6107
  • Trendline 11.6107
  • Trendline 21.6075
  • Elliott1.6001
  • Closing1.6148
  • Ex-Low1.6001
  • Ex-High1.6165
  • Projection1.6269

Supports and Resistance levels

  • Support 11.6044
  • Support 21.5941
  • Resistance 11.6208
  • Resistance 21.6269
  • Pivot1.6105

It may meet resistance in 1.6209 - 1.6256 zone for a drift down to 1.6078 zone, after which bounce to 1.6388 is anticipated.

Technical Forecast

  • Elliott Wave

    extension wave down 1.6073

  • Trend Warning

    Warning: End of trend - Imminent end of bearish move

Key Points

  • Key Point1.6063
  • Entry Point1.6162
  • Trendline 11.6454
  • Trendline 21.6174
  • Elliott1.6956
  • Closing1.6209
  • Ex-Low1.6125
  • Ex-High1.6435
  • Projection1.5892

Supports and Resistance levels

  • Support 11.6078
  • Support 21.5946
  • Resistance 11.6388
  • Resistance 21.6566
  • Pivot1.6256

It looks more likely that it would rise to 1.6875 - 1.7159 from 1.6536 or 1.6394. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    crucial reversal point

Key Points

  • Key Point1.6562
  • Entry Point1.6727
  • Trendline 11.6889
  • Trendline 21.6860
  • Elliott1.7164
  • Closing1.6592
  • Ex-Low1.6480
  • Ex-High1.6961
  • Projection1.6134

Supports and Resistance levels

  • Support 11.6394
  • Support 21.6197
  • Resistance 11.6875
  • Resistance 21.7159
  • Pivot1.6678