It should trade higher to 1.0061 or above 1.0104 in extention. Supports at 0.9978 and 0.9956. Stop loss below 0.9894 zone.

Technical Forecast

  • Elliott Wave

    flat correction up 1.0080

  • Trend Warning

    Warning: Engulfing pattern

Key Points

  • Key Point1.0044
  • Entry Point0.9991
  • Trendline 10.9993
  • Trendline 20.9993
  • Elliott0.9938
  • Closing1.0017
  • Ex-Low0.9938
  • Ex-High1.0043
  • Projection1.0055

Supports and Resistance levels

  • Support 10.9956
  • Support 20.9894
  • Resistance 11.0061
  • Resistance 21.0104
  • Pivot0.9999

While above 0.9960 - 0.9904 zone a corrective dip could test 1.0016 or 1.0110. After which it should resume his downtrend.

Technical Forecast

  • Elliott Wave

    correction zigzag 1.0066

  • Trend Warning

    Warning: Low Zone

Key Points

  • Key Point0.9983
  • Entry Point0.9965
  • Trendline 10.9922
  • Trendline 20.9971
  • Elliott0.9873
  • Closing0.9998
  • Ex-Low0.9922
  • Ex-High1.0128
  • Projection1.0066

Supports and Resistance levels

  • Support 10.9904
  • Support 20.9810
  • Resistance 11.0110
  • Resistance 21.0222
  • Pivot1.0016

It looks more likely that it would rise to 1.0324 - 1.0619 from 0.9935 or 0.9788. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    zigzag or flat correction 1.0177

Key Points

  • Key Point1.0174
  • Entry Point1.0139
  • Trendline 11.0170
  • Trendline 21.0234
  • Elliott0.9058
  • Closing1.0029
  • Ex-Low0.9842
  • Ex-High1.0378
  • Projection1.0177

Supports and Resistance levels

  • Support 10.9788
  • Support 20.9547
  • Resistance 11.0324
  • Resistance 21.0619
  • Pivot1.0083