It may meet resistance in 1.6126 - 1.6131 zone for a drift down to 1.6080 zone, after which bounce to 1.6177 is anticipated.

Technical Forecast

  • Elliott Wave

    extended impulse wave down 1.6068

  • Trend Warning

    Warning: End of trend

Key Points

  • Key Point1.6100
  • Entry Point1.6125
  • Trendline 11.6180
  • Trendline 21.6126
  • Elliott1.6451
  • Closing1.6126
  • Ex-Low1.6085
  • Ex-High1.6182
  • Projection1.6068

Supports and Resistance levels

  • Support 11.6080
  • Support 21.6034
  • Resistance 11.6177
  • Resistance 21.6228
  • Pivot1.6131

Market should not go lower than 1.6185. After this move down it should go up to 1.6405 area.

Technical Forecast

  • Elliott Wave

    irregular flat correction down 1.6198

  • Trend Warning

    Warning: End of trend - Imminent end of bearish move

Key Points

  • Key Point1.6207
  • Entry Point1.6323
  • Trendline 11.6479
  • Trendline 21.6296
  • Elliott1.6728
  • Closing1.6280
  • Ex-Low1.6248
  • Ex-High1.6451
  • Projection1.6034

Supports and Resistance levels

  • Support 11.6202
  • Support 21.6123
  • Resistance 11.6405
  • Resistance 21.6529
  • Pivot1.6326

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