One more dip to 1.1289 is likely followed by a grind higher to 1.1359. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    extension wave down

Key Points

  • Key Point1.1297
  • Entry Point1.1326
  • Trendline 11.1366
  • Trendline 21.1338
  • Elliott1.1393
  • Closing1.1307
  • Ex-Low1.1270
  • Ex-High1.1366
  • Projection1.1253

Supports and Resistance levels

  • Support 11.1263
  • Support 21.1219
  • Resistance 11.1359
  • Resistance 21.1410
  • Pivot1.1314

It looks more likely that it would rise to 1.1410 - 1.1513 from 1.1289 or 1.1237. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point1.1258
  • Entry Point1.1351
  • Trendline 11.1362
  • Trendline 21.1362
  • Elliott1.1443
  • Closing1.1307
  • Ex-Low1.1270
  • Ex-High1.1443
  • Projection1.1159

Supports and Resistance levels

  • Support 11.1237
  • Support 21.1167
  • Resistance 11.1410
  • Resistance 21.1513
  • Pivot1.1340

It is likely to fall towards 1.1189 - 1.1060 unless a corrective rally breaks the 1.1408 resistance. Stop above 1.1473 zone.

Technical Forecast

  • Elliott Wave

    resistance in a flat correction

Key Points

  • Key Point1.1246
  • Entry Point1.1320
  • Trendline 11.1435
  • Trendline 21.1342
  • Elliott1.1815
  • Closing1.1317
  • Ex-Low1.1216
  • Ex-High1.1500
  • Projection1.0983

Supports and Resistance levels

  • Support 11.1189
  • Support 21.1060
  • Resistance 11.1473
  • Resistance 21.1628
  • Pivot1.1344