Market should pop up towards 1.2750 or 1.2767 this bullish scenario would be damaged if 1.2722 - 1.2721 zone is broken, a severe break down could then occur.

Technical Forecast

  • Elliott Wave

    flat correction up

Key Points

  • Key Point1.2727
  • Entry Point1.2717
  • Trendline 11.2697
  • Trendline 21.2715
  • Elliott1.2679
  • Closing1.2729
  • Ex-Low1.2697
  • Ex-High1.2770
  • Projection1.2774

Supports and Resistance levels

  • Support 11.2694
  • Support 21.2660
  • Resistance 11.2767
  • Resistance 21.2805
  • Pivot1.2732

One more dip to 1.2704 or 1.2662 is likely followed by a grind higher to 1.2781 - 1.2815. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point1.2639
  • Entry Point1.2707
  • Trendline 11.2743
  • Trendline 21.2672
  • Elliott1.3173
  • Closing1.2729
  • Ex-Low1.2679
  • Ex-High1.2832
  • Projection1.2499

Supports and Resistance levels

  • Support 11.2662
  • Support 21.2594
  • Resistance 11.2815
  • Resistance 21.2900
  • Pivot1.2747

It looks more likely that it would rise to 1.3042 - 1.3354 from 1.2704 or 1.2548. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.2532
  • Entry Point1.2853
  • Trendline 11.2926
  • Trendline 21.2926
  • Elliott1.3173
  • Closing1.2729
  • Ex-Low1.2679
  • Ex-High1.3173
  • Projection1.2460

Supports and Resistance levels

  • Support 11.2548
  • Support 21.2367
  • Resistance 11.3042
  • Resistance 21.3354
  • Pivot1.2860