It looks more likely that it would rise to 1.1703 - 1.1746 from 1.1657 or 1.1636. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point1.1630
  • Entry Point1.1676
  • Trendline 11.1662
  • Trendline 21.1675
  • Elliott1.1722
  • Closing1.1659
  • Ex-Low1.1655
  • Ex-High1.1722
  • Projection1.1642

Supports and Resistance levels

  • Support 11.1636
  • Support 21.1612
  • Resistance 11.1703
  • Resistance 21.1746
  • Pivot1.1679

Strength can extend to 1.1691 or even 1.1726 as declines are expected to find support at 1.1655 or 1.1622. Stop Loss below 1.1588 zone.

Technical Forecast

  • Elliott Wave

    irregular flat correction up

Key Points

  • Key Point1.1666
  • Entry Point1.1635
  • Trendline 11.1584
  • Trendline 21.1625
  • Elliott1.1543
  • Closing1.1659
  • Ex-Low1.1584
  • Ex-High1.1722
  • Projection1.1711

Supports and Resistance levels

  • Support 11.1588
  • Support 21.1517
  • Resistance 11.1726
  • Resistance 21.1793
  • Pivot1.1655

Uptrend is still intact in a triangle configuration. It should continue to rally to 1.1735 or 1.1755 if support around 1.1572 hold. After which a pullback to 1.1572 - 1.1502 zone is possible.

Technical Forecast

  • Elliott Wave

    exagerated impulse wave up

Key Points

  • Key Point1.1688
  • Entry Point1.1554
  • Trendline 11.1467
  • Trendline 21.1543
  • Elliott1.0633
  • Closing1.1616
  • Ex-Low1.1388
  • Ex-High1.1711
  • Projection1.1752

Supports and Resistance levels

  • Support 11.1432
  • Support 21.1249
  • Resistance 11.1755
  • Resistance 21.1895
  • Pivot1.1572