It is likely to fall towards 1.0997 - 1.0978 as its corrective rally could falter in 1.1033 - 1.1048 area. Stop above 1.1087 zone.

Technical Forecast

  • Elliott Wave

    extended impulse wave down

Key Points

  • Key Point1.0999
  • Entry Point1.1032
  • Trendline 11.1052
  • Trendline 21.1049
  • Elliott1.1068
  • Closing1.1010
  • Ex-Low1.0985
  • Ex-High1.1056
  • Projection1.0983

Supports and Resistance levels

  • Support 11.0978
  • Support 21.0946
  • Resistance 11.1048
  • Resistance 21.1087
  • Pivot1.1017

It should test 1.1067 area after which a sell off down to 1.0940 or extended to 1.0782 area is expected.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point1.1046
  • Entry Point1.1040
  • Trendline 11.1093
  • Trendline 21.1050
  • Elliott1.1250
  • Closing1.1026
  • Ex-Low1.0926
  • Ex-High1.1085
  • Projection1.0889

Supports and Resistance levels

  • Support 11.0940
  • Support 21.0854
  • Resistance 11.1098
  • Resistance 21.1171
  • Pivot1.1012

Market should not go lower than 1.0978 - 1.0887. After this move down it should go up to 1.1121 - 1.1173 area.

Technical Forecast

  • Elliott Wave

    common flat resistance in downtrend

Key Points

  • Key Point1.0910
  • Entry Point1.1071
  • Trendline 11.1259
  • Trendline 21.1128
  • Elliott1.1412
  • Closing1.0992
  • Ex-Low1.0963
  • Ex-High1.1250
  • Projection1.0742

Supports and Resistance levels

  • Support 11.0887
  • Support 21.0782
  • Resistance 11.1173
  • Resistance 21.1354
  • Pivot1.1068