Monthly: A bearish Elliott Wave pattern (5-waves) was compete at the 2011 low of 1.1462. Price action is holding within a triangle formation (109 months of mixed trading). Trend of higher lows is located at 1.1966
Weekly: For the last 106 weeks we have held within a bullish channel formation. The trend line support is currently located at 1.2695. Dips below this level are finding buyers. Last weeks Marabuzo level is located at 1.2817
Intraday (one-hour): Bespoke resistance is located at 1.2745. With this are likely to complete the first bullish Elliott Wave count (5), we would then look for a correction to the downside. A projected channel base can be seen a 1.2675. We look to by dips for a medium-term call
