It should register gains to 1.2596. Corrective decline should be supported in 1.2550 - 1.2530 area. Stop Loss below 1.2503 zone.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point1.2541
  • Entry Point1.2558
  • Trendline 11.2607
  • Trendline 21.2559
  • Elliott1.2657
  • Closing1.2557
  • Ex-Low1.2542
  • Ex-High1.2608
  • Projection1.2496

Supports and Resistance levels

  • Support 11.2530
  • Support 21.2503
  • Resistance 11.2596
  • Resistance 21.2635
  • Pivot1.2569

Upside potential exists for a rise to above 1.2643. Supports are at 1.2585 and 1.2571 zone.

Technical Forecast

  • Elliott Wave

    extension wave down

Key Points

  • Key Point1.2517
  • Entry Point1.2506
  • Trendline 11.2592
  • Trendline 21.2522
  • Elliott1.3400
  • Closing1.2585
  • Ex-Low1.2557
  • Ex-High1.2658
  • Projection1.2318

Supports and Resistance levels

  • Support 11.2542
  • Support 21.2499
  • Resistance 11.2643
  • Resistance 21.2701
  • Pivot1.2600

There is bearish potential for a fall to 1.2633 - 1.2378 while 1.2889 - 1.3020 resist. After this fall a recovery up to 1.3020 or 1.3152 is expected.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.2598
  • Entry Point1.3014
  • Trendline 11.3071
  • Trendline 21.3071
  • Elliott1.3424
  • Closing1.2641
  • Ex-Low1.2626
  • Ex-High1.3400
  • Projection1.2306

Supports and Resistance levels

  • Support 11.2378
  • Support 21.2115
  • Resistance 11.3152
  • Resistance 21.3663
  • Pivot1.2889