It should be subject to more sell off towards 1.6066 or 1.6050. Corrective upward swings should face resistance around 1.6154 area. A break of 1.6168 is bullish.

Technical Forecast

  • Elliott Wave

    elongated flat correction up 1.6200

Key Points

  • Key Point1.6128
  • Entry Point1.6080
  • Trendline 11.6117
  • Trendline 21.6090
  • Elliott1.6032
  • Closing1.6101
  • Ex-Low1.6032
  • Ex-High1.6117
  • Projection1.6144

Supports and Resistance levels

  • Support 11.6050
  • Support 21.5998
  • Resistance 11.6135
  • Resistance 21.6168
  • Pivot1.6083

It should test 1.6326 area after which a sell off down to 1.5903 or extended to 1.5706 area is expected.

Technical Forecast

  • Elliott Wave

    crucial reversal point

  • Trend Warning

    Warning: End of trend

Key Points

  • Key Point1.6212
  • Entry Point1.6020
  • Trendline 11.6151
  • Trendline 21.6047
  • Elliott1.5827
  • Closing1.6099
  • Ex-Low1.5827
  • Ex-High1.6144
  • Projection1.6368

Supports and Resistance levels

  • Support 11.5903
  • Support 21.5706
  • Resistance 11.6220
  • Resistance 21.6340
  • Pivot1.6023

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