Market should not go lower than 1.1463 - 1.1438. After this move down it should go up to 1.1504 - 1.1520 area.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.1438
  • Entry Point1.1487
  • Trendline 11.1540
  • Trendline 21.1511
  • Elliott1.1570
  • Closing1.1469
  • Ex-Low1.1458
  • Ex-High1.1540
  • Projection1.1404

Supports and Resistance levels

  • Support 11.1438
  • Support 21.1407
  • Resistance 11.1520
  • Resistance 21.1571
  • Pivot1.1489

Resistances lie around 1.1519 and 1.1560. It should test lower towards 1.1387 zone. A clear break of 1.1440 would be bearish.

Technical Forecast

  • Elliott Wave

    irregular flat correction up

Key Points

  • Key Point1.1487
  • Entry Point1.1465
  • Trendline 11.1396
  • Trendline 21.1490
  • Elliott1.1302
  • Closing1.1469
  • Ex-Low1.1396
  • Ex-High1.1570
  • Projection1.1599

Supports and Resistance levels

  • Support 11.1387
  • Support 21.1305
  • Resistance 11.1560
  • Resistance 21.1652
  • Pivot1.1478

Currently uptrend should end around 1.1487 - 1.1538 area. A correction down to below 1.1322 is expected. A rise above 1.1619 will abort the expected correction.

Technical Forecast

  • Elliott Wave

    correction zigzag

Key Points

  • Key Point1.1535
  • Entry Point1.1396
  • Trendline 11.1385
  • Trendline 21.1416
  • Elliott1.1216
  • Closing1.1456
  • Ex-Low1.1270
  • Ex-High1.1485
  • Projection1.1586

Supports and Resistance levels

  • Support 11.1322
  • Support 21.1189
  • Resistance 11.1538
  • Resistance 21.1619
  • Pivot1.1404