Current fall is near an end of wave around 1.7414 zone, a rally should then procede to above 1.7505. Fall below 1.7375 would cancel this scenario.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point1.7436
  • Entry Point1.7450
  • Trendline 11.7509
  • Trendline 21.7442
  • Elliott1.7818
  • Closing1.7454
  • Ex-Low1.7426
  • Ex-High1.7516
  • Projection1.7403

Supports and Resistance levels

  • Support 11.7414
  • Support 21.7375
  • Resistance 11.7505
  • Resistance 21.7556
  • Pivot1.7465

There is bearish potential for a fall to 1.7423 - 1.7310 while 1.7536 - 1.7607 resist. After this fall a recovery up to 1.7607 or 1.7679 is expected.

Technical Forecast

  • Elliott Wave

    elongated flat resistance in downtrend

Key Points

  • Key Point1.7401
  • Entry Point1.7519
  • Trendline 11.7655
  • Trendline 21.7627
  • Elliott1.8732
  • Closing1.7454
  • Ex-Low1.7392
  • Ex-High1.7761
  • Projection1.6944

Supports and Resistance levels

  • Support 11.7310
  • Support 21.7166
  • Resistance 11.7679
  • Resistance 21.7905
  • Pivot1.7536

It might hold above 1.7423 or 1.7181 for a rise towards above 1.7938. Stop loss below 1.6908 zone.

Technical Forecast

  • Elliott Wave

    resistance in a flat correction

Key Points

  • Key Point1.7099
  • Entry Point1.7478
  • Trendline 11.8149
  • Trendline 21.7567
  • Elliott1.8732
  • Closing1.7454
  • Ex-Low1.7392
  • Ex-High1.8149
  • Projection1.6389

Supports and Resistance levels

  • Support 11.7181
  • Support 21.6908
  • Resistance 11.7938
  • Resistance 21.8422
  • Pivot1.7665