It should be subject to more sell off towards 1.2511 or 1.2461. Corrective upward swings should face resistance around 1.2588 area. A break of 1.2642 is bullish.

Technical Forecast

  • Elliott Wave

    correction zigzag

Key Points

  • Key Point1.2579
  • Entry Point1.2585
  • Trendline 11.2592
  • Trendline 21.2592
  • Elliott1.2592
  • Closing1.2561
  • Ex-Low1.2501
  • Ex-High1.2592
  • Projection1.2512

Supports and Resistance levels

  • Support 11.2511
  • Support 21.2461
  • Resistance 11.2601
  • Resistance 21.2642
  • Pivot1.2551

It should try higher up to 1.2586 - 1.2655. Entry point 1.2518 or 1.2471. After this rise, a correction is expected.

Technical Forecast

  • Elliott Wave

Key Points

  • Key Point1.2625
  • Entry Point1.2503
  • Trendline 11.2604
  • Trendline 21.2500
  • Elliott1.2381
  • Closing1.2561
  • Ex-Low1.2381
  • Ex-High1.2612
  • Projection1.2683

Supports and Resistance levels

  • Support 11.2424
  • Support 21.2287
  • Resistance 11.2655
  • Resistance 21.2749
  • Pivot1.2518

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