It should register further gains to 1.6052 while 1.5938 - 1.5894 caps downside attempts. Stop loss below 1.5824 zone.

Technical Forecast

  • Elliott Wave

    extended impulse wave down 1.5893

  • Trend Warning

    Warning: Imminent end of bearish move

Key Points

  • Key Point1.5943
  • Entry Point1.6011
  • Trendline 11.6090
  • Trendline 21.6011
  • Elliott1.6177
  • Closing1.5982
  • Ex-Low1.5964
  • Ex-High1.6078
  • Projection1.5929

Supports and Resistance levels

  • Support 11.5938
  • Support 21.5894
  • Resistance 11.6052
  • Resistance 21.6122
  • Pivot1.6008

Resistances lie around 1.6161 and 1.6200. It should test lower towards 1.6013 zone. A clear break of 1.5998 would be bearish.

Technical Forecast

  • Elliott Wave

    common flat correction up 1.6216

Key Points

  • Key Point1.6094
  • Entry Point1.6094
  • Trendline 11.6044
  • Trendline 21.6144
  • Elliott1.5944
  • Closing1.6091
  • Ex-Low1.6044
  • Ex-High1.6231
  • Projection1.6216

Supports and Resistance levels

  • Support 11.6013
  • Support 21.5935
  • Resistance 11.6200
  • Resistance 21.6309
  • Pivot1.6122

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