One more dip to 1.3095 is likely followed by a grind higher to 1.3193. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    extension wave down

Key Points

  • Key Point1.3091
  • Entry Point1.3134
  • Trendline 11.3208
  • Trendline 21.3145
  • Elliott1.3271
  • Closing1.3118
  • Ex-Low1.3073
  • Ex-High1.3208
  • Projection1.3053

Supports and Resistance levels

  • Support 11.3058
  • Support 21.2998
  • Resistance 11.3193
  • Resistance 21.3268
  • Pivot1.3133

Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3286 or 1.3318 if support around 1.3204 hold. After which a pullback to 1.3204 - 1.3173 zone is possible.

Technical Forecast

  • Elliott Wave

    irregular flat correction up

Key Points

  • Key Point1.3337
  • Entry Point1.3193
  • Trendline 11.3081
  • Trendline 21.3142
  • Elliott1.3025
  • Closing1.3257
  • Ex-Low1.3089
  • Ex-High1.3265
  • Projection1.3422

Supports and Resistance levels

  • Support 11.3142
  • Support 21.3027
  • Resistance 11.3318
  • Resistance 21.3380
  • Pivot1.3204

It may meet resistance in 1.3080 - 1.3125 zone for a drift down to 1.2980 zone, after which bounce to 1.3226 is anticipated.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.3013
  • Entry Point1.2989
  • Trendline 11.3266
  • Trendline 21.2977
  • Elliott1.3856
  • Closing1.3080
  • Ex-Low1.3025
  • Ex-High1.3270
  • Projection1.2864

Supports and Resistance levels

  • Support 11.2980
  • Support 21.2880
  • Resistance 11.3226
  • Resistance 21.3371
  • Pivot1.3125