Current rise seems to be over near 1.6081 or 1.6115 for a retracement towards 1.6047 - 1.6026 area.

Technical Forecast

  • Elliott Wave

    flat correction up 1.6176

  • Trend Warning

    Warning: Imminent end of bullish move

Key Points

  • Key Point1.6109
  • Entry Point1.6046
  • Trendline 11.5980
  • Trendline 21.6016
  • Elliott1.5944
  • Closing1.6072
  • Ex-Low1.5980
  • Ex-High1.6090
  • Projection1.6112

Supports and Resistance levels

  • Support 11.6005
  • Support 21.5937
  • Resistance 11.6115
  • Resistance 21.6157
  • Pivot1.6047

There is bearish potential for a fall to 1.5899 while 1.6057 - 1.6105 resist. After this fall a recovery up to 1.6105 or 1.6153 is expected.

Technical Forecast

  • Elliott Wave

    flat correction down 1.5855

  • Trend Warning

    Warning: Low Zone - Engulfing pattern

Key Points

  • Key Point1.5899
  • Entry Point1.6058
  • Trendline 11.6093
  • Trendline 21.6093
  • Elliott1.6216
  • Closing1.5994
  • Ex-Low1.5962
  • Ex-High1.6216
  • Projection1.5827

Supports and Resistance levels

  • Support 11.5899
  • Support 21.5803
  • Resistance 11.6153
  • Resistance 21.6311
  • Pivot1.6057

One more dip to 1.5949 - 1.5746 is likely followed by a grind higher to 1.6315 - 1.6477. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    elongated flat correction down 1.5850

  • Trend Warning

    Warning: Imminent end of bearish move

Key Points

  • Key Point1.6017
  • Entry Point1.6300
  • Trendline 11.6581
  • Trendline 21.6388
  • Elliott1.6828
  • Closing1.6071
  • Ex-Low1.5827
  • Ex-High1.6558
  • Projection1.5773

Supports and Resistance levels

  • Support 11.5746
  • Support 21.5421
  • Resistance 11.6477
  • Resistance 21.6883
  • Pivot1.6152