It should be subject to more weakness towards 1.6512. After which a correction to above 1.6585 is anticipated. A break of 1.6486 is bearish.

Technical Forecast

  • Elliott Wave

    extension wave down 1.6466

  • Trend Warning

    Warning: Imminent end of bearish move

Key Points

  • Key Point1.6524
  • Entry Point1.6557
  • Trendline 11.6618
  • Trendline 21.6548
  • Elliott1.6703
  • Closing1.6538
  • Ex-Low1.6533
  • Ex-High1.6606
  • Projection1.6496

Supports and Resistance levels

  • Support 11.6512
  • Support 21.6486
  • Resistance 11.6585
  • Resistance 21.6632
  • Pivot1.6559

It looks more likely that it would rise to 1.6668 - 1.6753 from 1.6576 or 1.6534. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    correction zigzag 1.6514

Key Points

  • Key Point1.6581
  • Entry Point1.6638
  • Trendline 11.6601
  • Trendline 21.6635
  • Elliott1.6728
  • Closing1.6584
  • Ex-Low1.6569
  • Ex-High1.6703
  • Projection1.6463

Supports and Resistance levels

  • Support 11.6534
  • Support 21.6485
  • Resistance 11.6668
  • Resistance 21.6753
  • Pivot1.6619

It looks set to visit further lower territory down to around 1.6495 - 1.6418. Its corrective attempts should fail ahead of 1.6495 - 1.6693. Stop loss above 1.6848 zone.

Technical Forecast

  • Elliott Wave

    flat correction down 1.6425

  • Trend Warning

    Warning: Harami

Key Points

  • Key Point1.6515
  • Entry Point1.6614
  • Trendline 11.6724
  • Trendline 21.6666
  • Elliott1.6828
  • Closing1.6538
  • Ex-Low1.6453
  • Ex-High1.6728
  • Projection1.6425

Supports and Resistance levels

  • Support 11.6418
  • Support 21.6298
  • Resistance 11.6693
  • Resistance 21.6848
  • Pivot1.6573