One more dip to 1.1139 - 1.1117 is likely followed by a grind higher to 1.1181 - 1.1202. After which it can resume its downtrend.
Technical Forecast
-
Elliott Wave
extended impulse wave down
Key Points
- Key Point1.1161
- Entry Point1.1175
- Trendline 11.1198
- Trendline 21.1188
- Elliott1.1278
- Closing1.1158
- Ex-Low1.1119
- Ex-High1.1205
- Projection1.1093
Supports and Resistance levels
- Support 11.1117
- Support 21.1076
- Resistance 11.1202
- Resistance 21.1246
- Pivot1.1161
Market should not go lower than 1.1175 - 1.1140. After this move down it should go up to 1.1228 - 1.1247 area.
Technical Forecast
-
Elliott Wave
common flat resistance in downtrend
Key Points
- Key Point1.1161
- Entry Point1.1202
- Trendline 11.1247
- Trendline 21.1264
- Elliott1.1477
- Closing1.1178
- Ex-Low1.1171
- Ex-High1.1278
- Projection1.0967
Supports and Resistance levels
- Support 11.1140
- Support 21.1102
- Resistance 11.1247
- Resistance 21.1316
- Pivot1.1209
While above 1.1175 - 1.1086 zone a corrective dip could test 1.1263 or 1.1355.
Technical Forecast
-
Elliott Wave
irregular flat correction down
Key Points
- Key Point1.1050
- Entry Point1.1275
- Trendline 11.1172
- Trendline 21.1181
- Elliott1.1477
- Closing1.1178
- Ex-Low1.1171
- Ex-High1.1440
- Projection1.0967
Supports and Resistance levels
- Support 11.1086
- Support 21.0995
- Resistance 11.1355
- Resistance 21.1531
- Pivot1.1263