It looks more likely that it would rise to 2.0029 - 2.0210 from 1.9832 or 1.9741. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    flat correction down 1.9754

  • Trend Warning

    Warning: Engulfing pattern

Key Points

  • Key Point1.9740
  • Entry Point1.9921
  • Trendline 11.9960
  • Trendline 21.9960
  • Elliott2.0102
  • Closing1.9849
  • Ex-Low1.9814
  • Ex-High2.0102
  • Projection1.9754

Supports and Resistance levels

  • Support 11.9741
  • Support 21.9634
  • Resistance 12.0029
  • Resistance 22.0210
  • Pivot1.9922

It should test 2.0016 area after which a sell off down to 1.9782 or extended to 1.9634 area is expected.

Technical Forecast

  • Elliott Wave

    resistance in an impulse wave down 2.0056

  • Trend Warning

    Warning: End of trend

Key Points

  • Key Point1.9828
  • Entry Point1.9846
  • Trendline 11.9949
  • Trendline 21.9804
  • Elliott2.0833
  • Closing1.9931
  • Ex-Low1.9754
  • Ex-High2.0023
  • Projection1.9760

Supports and Resistance levels

  • Support 11.9782
  • Support 21.9634
  • Resistance 12.0051
  • Resistance 22.0172
  • Pivot1.9903

Market should not go lower than 1.9469. After this move down it should go up to 2.0264 - 2.0434 area.

Technical Forecast

  • Elliott Wave

    crucial reversal point

  • Trend Warning

    Warning: Imminent end of bearish move

Key Points

  • Key Point1.9481
  • Entry Point1.9988
  • Trendline 12.0679
  • Trendline 22.0196
  • Elliott2.1162
  • Closing1.9849
  • Ex-Low1.9754
  • Ex-High2.0679
  • Projection1.8719

Supports and Resistance levels

  • Support 11.9509
  • Support 21.9169
  • Resistance 12.0434
  • Resistance 22.1019
  • Pivot2.0094