One more dip to 1.1616 - 1.1598 is likely followed by a grind higher to 1.1650 - 1.1665. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point1.1622
  • Entry Point1.1639
  • Trendline 11.1659
  • Trendline 21.1655
  • Elliott1.1714
  • Closing1.1629
  • Ex-Low1.1603
  • Ex-High1.1670
  • Projection1.1561

Supports and Resistance levels

  • Support 11.1598
  • Support 21.1567
  • Resistance 11.1665
  • Resistance 21.1701
  • Pivot1.1634

Uptrend is still intact in a triangle configuration. It should continue to rally to 1.1749 or 1.1742 if support around 1.1674 hold. After which a pullback to 1.1674 - 1.1656 zone is possible.

Technical Forecast

  • Elliott Wave

    elongated flat correction up

Key Points

  • Key Point1.1756
  • Entry Point1.1684
  • Trendline 11.1601
  • Trendline 21.1676
  • Elliott1.1479
  • Closing1.1707
  • Ex-Low1.1606
  • Ex-High1.1709
  • Projection1.1767

Supports and Resistance levels

  • Support 11.1638
  • Support 21.1570
  • Resistance 11.1742
  • Resistance 21.1777
  • Pivot1.1674

It should try higher up to 1.1616 - 1.1662. Entry point 1.1571 or 1.1527. After this rise, a correction is expected.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.1491
  • Entry Point1.1516
  • Trendline 11.1725
  • Trendline 21.1334
  • Elliott1.2006
  • Closing1.1575
  • Ex-Low1.1479
  • Ex-High1.1657
  • Projection1.1448

Supports and Resistance levels

  • Support 11.1484
  • Support 21.1393
  • Resistance 11.1662
  • Resistance 21.1748
  • Pivot1.1571