Main scenario:
Market is resounding from resistance level 1.1340 with target to support 1.1300.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.1340, which will be followed by moving up to resistance level 1.1370.
Previous forecast:
Weekly forecast, May 16 - 20: rebounding from main support 1.1355 with possible target on 1.1615
Main scenario:
The pair is trading along a downtrend with target on 1.1215 that may be expected to continue while pair is trading below resistance level 1.1370.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.1370, which will be followed by moving up to resistance level 1.1460 and 1.1535.
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 a sideways trend between support 1.1400 and resistance 1.1533.
A 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 a sideways trend between that level and support 1.1400.
A 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 a 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.
