It looks more likely that it would rise to 1.8417 from 1.8319 or 1.8284. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    elongated flat correction up

Key Points

  • Key Point1.8352
  • Entry Point1.8330
  • Trendline 11.8287
  • Trendline 21.8341
  • Elliott1.8220
  • Closing1.8348
  • Ex-Low1.8290
  • Ex-High1.8422
  • Projection1.8386

Supports and Resistance levels

  • Support 11.8284
  • Support 21.8221
  • Resistance 11.8417
  • Resistance 21.8486
  • Pivot1.8353

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