It should trade higher to 1.2673 or above 1.2701 in extention. Supports at 1.2602 and 1.2588. Stop loss below 1.2531 zone.

Technical Forecast

  • Elliott Wave

    flat correction up

Key Points

  • Key Point1.2687
  • Entry Point1.2623
  • Trendline 11.2606
  • Trendline 21.2606
  • Elliott1.2559
  • Closing1.2644
  • Ex-Low1.2559
  • Ex-High1.2644
  • Projection1.2676

Supports and Resistance levels

  • Support 11.2588
  • Support 21.2531
  • Resistance 11.2673
  • Resistance 21.2701
  • Pivot1.2616

One more dip to 1.2602 - 1.2553 is likely followed by a grind higher to 1.2696 - 1.2742. After which it can resume his downtrend.

Technical Forecast

  • Elliott Wave

    resistance in an elongated correction

Key Points

  • Key Point1.2635
  • Entry Point1.2628
  • Trendline 11.2682
  • Trendline 21.2641
  • Elliott1.3177
  • Closing1.2644
  • Ex-Low1.2559
  • Ex-High1.2748
  • Projection1.2482

Supports and Resistance levels

  • Support 11.2553
  • Support 21.2462
  • Resistance 11.2742
  • Resistance 21.2839
  • Pivot1.2651

Market should not go lower than 1.2602 - 1.2410. After this move down it should go up to 1.2911 - 1.3028 area.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.2600
  • Entry Point1.2857
  • Trendline 11.3089
  • Trendline 21.3157
  • Elliott1.3381
  • Closing1.2644
  • Ex-Low1.2559
  • Ex-High1.3177
  • Projection1.2429

Supports and Resistance levels

  • Support 11.2410
  • Support 21.2176
  • Resistance 11.3028
  • Resistance 21.3411
  • Pivot1.2793