It looks more likely that it would rise to 1.1339 - 1.1379 from 1.1297 or 1.1277. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point1.1272
  • Entry Point1.1314
  • Trendline 11.1308
  • Trendline 21.1313
  • Elliott1.1357
  • Closing1.1299
  • Ex-Low1.1295
  • Ex-High1.1357
  • Projection1.1261

Supports and Resistance levels

  • Support 11.1277
  • Support 21.1255
  • Resistance 11.1339
  • Resistance 21.1379
  • Pivot1.1317

Current fall is near an end of wave around 1.1254 zone, a rally should then procede to above 1.1351. Fall below 1.1210 would cancel this scenario.

Technical Forecast

  • Elliott Wave

    extension wave down

Key Points

  • Key Point1.1286
  • Entry Point1.1308
  • Trendline 11.1364
  • Trendline 21.1292
  • Elliott1.1470
  • Closing1.1299
  • Ex-Low1.1261
  • Ex-High1.1357
  • Projection1.1265

Supports and Resistance levels

  • Support 11.1254
  • Support 21.1210
  • Resistance 11.1351
  • Resistance 21.1402
  • Pivot1.1306

It should trade lower to 1.1280 - 1.1217. Resistances are at 1.1385 and 1.1426. A break of 1.1553 is bullish, confirmed by a close above 1.1165.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.1232
  • Entry Point1.1366
  • Trendline 11.1470
  • Trendline 21.1439
  • Elliott1.1501
  • Closing1.1299
  • Ex-Low1.1261
  • Ex-High1.1470
  • Projection1.1184

Supports and Resistance levels

  • Support 11.1217
  • Support 21.1134
  • Resistance 11.1426
  • Resistance 21.1553
  • Pivot1.1344