It is a triangle configuration. Market should break either side. Acceleration should occur above 1.7064 or under 1.6978 limits.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point1.7013
  • Entry Point1.7038
  • Trendline 11.7020
  • Trendline 21.7020
  • Elliott1.7064
  • Closing1.7017
  • Ex-Low1.6978
  • Ex-High1.7064
  • Projection1.6978

Supports and Resistance levels

  • Support 11.6975
  • Support 21.6933
  • Resistance 11.7061
  • Resistance 21.7106
  • Pivot1.7020

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