It looks more likely that it would rise to 1.7093 - 1.7163 from 1.7009 or 1.6974. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point1.6991
  • Entry Point1.7053
  • Trendline 11.7055
  • Trendline 21.7055
  • Elliott1.7114
  • Closing1.7023
  • Ex-Low1.6995
  • Ex-High1.7114
  • Projection1.6983

Supports and Resistance levels

  • Support 11.6974
  • Support 21.6924
  • Resistance 11.7093
  • Resistance 21.7163
  • Pivot1.7044

It should trade higher to 1.7146 or above 1.7217 in extention. Supports at 1.7029 and 1.6994. Stop loss below 1.6912 zone.

Technical Forecast

  • Elliott Wave

    extension wave down

Key Points

  • Key Point1.6978
  • Entry Point1.6973
  • Trendline 11.6964
  • Trendline 21.6943
  • Elliott1.7729
  • Closing1.7075
  • Ex-Low1.6983
  • Ex-High1.7135
  • Projection1.6805

Supports and Resistance levels

  • Support 11.6994
  • Support 21.6912
  • Resistance 11.7146
  • Resistance 21.7217
  • Pivot1.7065

There is bearish potential for a fall to 1.6989 - 1.6743 while 1.7236 - 1.7402 resist. After this fall a recovery up to 1.7402 or 1.7568 is expected.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.7110
  • Entry Point1.7408
  • Trendline 11.7391
  • Trendline 21.7391
  • Elliott1.7796
  • Closing1.7075
  • Ex-Low1.6904
  • Ex-High1.7729
  • Projection1.6702

Supports and Resistance levels

  • Support 11.6743
  • Support 21.6410
  • Resistance 11.7568
  • Resistance 21.8062
  • Pivot1.7236