It looks set to visit further lower territory down to around 1.8189 - 1.8162. Its corrective attempts should fail ahead of 1.8239 - 1.8262. Stop loss above 1.8316 zone.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point1.8195
  • Entry Point1.8233
  • Trendline 11.8226
  • Trendline 21.8226
  • Elliott1.8271
  • Closing1.8208
  • Ex-Low1.8171
  • Ex-High1.8271
  • Projection1.8171

Supports and Resistance levels

  • Support 11.8162
  • Support 21.8117
  • Resistance 11.8262
  • Resistance 21.8316
  • Pivot1.8217

Current fall is near an end of wave around 1.8124 zone, a rally should then procede to above 1.8339. Fall below 1.8040 would cancel this scenario.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.8138
  • Entry Point1.8184
  • Trendline 11.8370
  • Trendline 21.8160
  • Elliott1.8883
  • Closing1.8208
  • Ex-Low1.8171
  • Ex-High1.8385
  • Projection1.8100

Supports and Resistance levels

  • Support 11.8124
  • Support 21.8040
  • Resistance 11.8339
  • Resistance 21.8469
  • Pivot1.8255

It is a triangle configuration. Market should break either side. Acceleration should occur above 1.8883 or under 1.8171 limits.

Technical Forecast

  • Elliott Wave

    common flat resistance in downtrend

Key Points

  • Key Point1.7889
  • Entry Point1.8386
  • Trendline 11.8171
  • Trendline 21.8242
  • Elliott1.8883
  • Closing1.8208
  • Ex-Low1.8171
  • Ex-High1.8883
  • Projection1.7616

Supports and Resistance levels

  • Support 11.7958
  • Support 21.7708
  • Resistance 11.8671
  • Resistance 21.9133
  • Pivot1.8421