It may attempt a test higher to 1.1213 - 1.1225 after which weakness may set it to a drift down to 1.1178 limit.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point1.1196
  • Entry Point1.1204
  • Trendline 11.1220
  • Trendline 21.1205
  • Elliott1.1264
  • Closing1.1201
  • Ex-Low1.1178
  • Ex-High1.1224
  • Projection1.1173

Supports and Resistance levels

  • Support 11.1178
  • Support 21.1155
  • Resistance 11.1225
  • Resistance 21.1248
  • Pivot1.1201

Uptrend is still intact in a triangle configuration. It should continue to rally to 1.1266 or 1.1269 if support around 1.1218 hold. After which a pullback to 1.1218 - 1.1200 zone is possible.

Technical Forecast

  • Elliott Wave

    flat correction up

Key Points

  • Key Point1.1258
  • Entry Point1.1215
  • Trendline 11.1170
  • Trendline 21.1199
  • Elliott1.1113
  • Closing1.1234
  • Ex-Low1.1167
  • Ex-High1.1253
  • Projection1.1324

Supports and Resistance levels

  • Support 11.1183
  • Support 21.1132
  • Resistance 11.1269
  • Resistance 21.1305
  • Pivot1.1218

It is likely to fall towards 1.1111 - 1.1006 unless a corrective rally breaks the 1.1270 resistance. Stop above 1.1322 zone.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point1.1212
  • Entry Point1.1227
  • Trendline 11.1325
  • Trendline 21.1242
  • Elliott1.1570
  • Closing1.1215
  • Ex-Low1.1113
  • Ex-High1.1324
  • Projection1.0997

Supports and Resistance levels

  • Support 11.1111
  • Support 21.1006
  • Resistance 11.1322
  • Resistance 21.1428
  • Pivot1.1217