It looks more likely that it would rise to 1.2839 from 1.2771 or 1.2745. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    zigzag or flat correction

Key Points

  • Key Point1.2779
  • Entry Point1.2771
  • Trendline 11.2753
  • Trendline 21.2779
  • Elliott1.2725
  • Closing1.2787
  • Ex-Low1.2756
  • Ex-High1.2850
  • Projection1.2850

Supports and Resistance levels

  • Support 11.2745
  • Support 21.2703
  • Resistance 11.2839
  • Resistance 21.2892
  • Pivot1.2797

It should register further gains to 1.2906 while 1.2743 - 1.2672 caps downside attempts. Stop loss below 1.2580 zone.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point1.2783
  • Entry Point1.2797
  • Trendline 11.2913
  • Trendline 21.2783
  • Elliott1.3174
  • Closing1.2814
  • Ex-Low1.2764
  • Ex-High1.2928
  • Projection1.2696

Supports and Resistance levels

  • Support 11.2743
  • Support 21.2672
  • Resistance 11.2906
  • Resistance 21.2999
  • Pivot1.2835

There is bearish potential for a fall to 1.2557 while 1.2908 - 1.3013 resist. After this fall a recovery up to 1.3013 or 1.3119 is expected.

Technical Forecast

  • Elliott Wave

Key Points

  • Key Point1.2560
  • Entry Point1.2976
  • Trendline 11.3258
  • Trendline 21.3218
  • Elliott1.3298
  • Closing1.2769
  • Ex-Low1.2696
  • Ex-High1.3258
  • Projection1.2269

Supports and Resistance levels

  • Support 11.2557
  • Support 21.2346
  • Resistance 11.3119
  • Resistance 21.3469
  • Pivot1.2908