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