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