EUR/USD Daily forecast, 05.10.16: break up of 1.1400 will open a target on 1.1460
Main scenario:
The pair is trading along a sideways trend between support 1.1355 and resistance 1.1400.
An uptrend will start as soon, as the pair rises above resistance level 1.1400, which will be followed by moving up to resistance level 1.4660.
Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1.1355, which will be followed by moving down to support level 1.1300.
previous forecast:
Weekly forecast, May 09 - 10: rebounding from main support 1.1355 with possible target on 1.1615
Main scenario:
Market is rebounding from the main support level 1.1355/70, from that uptrend will start as soon, as the pair rises above resistance level 1.1460, which will be followed by moving up to resistance level 1.1615.
Alternative scenario:
The downtrend may be expected to continue in case the market drops below support level 1.1355, which will be followed by reaching support level 1.1300 and 1.1215.
previous forecast:
Monthly forecast, May 2016: break down of 1.1400 will open a target on 1.0900
Main scenario:
The pair is trading along an sideways trend between support 1.1400 and resistance 1.1533.
An downtrend will start as soon, as the pair drops below support level 1.1400, which will be followed by moving down to support level 1.1300, 1.1215 and to 1.0900.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.1533, which will be followed by moving up to resistance level 1.1700.
previous forecast:
Quarterly forecast, April - June, 2016
Main scenario:
The pair is trading very closer to main resistance level 1.1700 and along an sideways trend between that level and support 1.1400.
An downtrend will start as soon, as the pair drops below support level 1.1400, which will be followed by moving down to support level 1.0900 and 1.0580.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.1700, which will be followed by moving up to resistance level 1.2250.
previous forecast:
Yearly forecast, 2016
Main scenario:
The pair is trading along an downtrend with target on 0.9900 - 0.9150, that may be expected to continue, while pair is trading below resistance level 1.1713.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.1713, which will be followed by moving up to resistance level 1.2250, 1.2770 and to 1.1390.