One more dip to 1.3194 - 1.3176 is likely followed by a grind higher to 1.3225 - 1.3240. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point1.3200
  • Entry Point1.3201
  • Trendline 11.3233
  • Trendline 21.3216
  • Elliott1.3363
  • Closing1.3206
  • Ex-Low1.3181
  • Ex-High1.3245
  • Projection1.3190

Supports and Resistance levels

  • Support 11.3176
  • Support 21.3147
  • Resistance 11.3240
  • Resistance 21.3274
  • Pivot1.3211

It may attempt a test higher to 1.3285 - 1.3349 after which weakness may set it to a drift down to below 1.3154 limit.

Technical Forecast

  • Elliott Wave

    flat correction up

Key Points

  • Key Point1.3368
  • Entry Point1.3220
  • Trendline 11.3246
  • Trendline 21.3289
  • Elliott1.3050
  • Closing1.3280
  • Ex-Low1.3095
  • Ex-High1.3290
  • Projection1.3474

Supports and Resistance levels

  • Support 11.3154
  • Support 21.3027
  • Resistance 11.3349
  • Resistance 21.3417
  • Pivot1.3222

Current fall is near an end of wave around 1.3014 zone, a rally should then procede to above 1.3438. Fall below 1.2820 would cancel this scenario.

Technical Forecast

  • Elliott Wave

    resistance in an elongated correction

Key Points

  • Key Point1.2960
  • Entry Point1.3067
  • Trendline 11.3247
  • Trendline 21.3023
  • Elliott1.4377
  • Closing1.3208
  • Ex-Low1.3050
  • Ex-High1.3474
  • Projection1.2891

Supports and Resistance levels

  • Support 11.3014
  • Support 21.2820
  • Resistance 11.3438
  • Resistance 21.3668
  • Pivot1.3244