One more dip to 1.6814 - 1.6775 is likely followed by a grind higher to 1.6881 - 1.6910. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    extended impulse wave down

Key Points

  • Key Point1.6824
  • Entry Point1.6862
  • Trendline 11.6940
  • Trendline 21.6893
  • Elliott1.7114
  • Closing1.6832
  • Ex-Low1.6796
  • Ex-High1.6930
  • Projection1.6693

Supports and Resistance levels

  • Support 11.6775
  • Support 21.6718
  • Resistance 11.6910
  • Resistance 21.6987
  • Pivot1.6853

Market should not go lower than 1.6891 - 1.6817. After this move down it should go up to 1.7004 - 1.7044 area.

Technical Forecast

  • Elliott Wave

    extended impulse wave down

Key Points

  • Key Point1.6796
  • Entry Point1.6894
  • Trendline 11.6974
  • Trendline 21.6960
  • Elliott1.7729
  • Closing1.6895
  • Ex-Low1.6887
  • Ex-High1.7114
  • Projection1.6805

Supports and Resistance levels

  • Support 11.6817
  • Support 21.6739
  • Resistance 11.7044
  • Resistance 21.7192
  • Pivot1.6965

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