Main scenario:
While pair is trading above support 1.1135, a correction can be made to resistance level 1.1160 - 1.1180. The downtrend may be expected to continue in case the market drops below support level 1.1135, which will be followed by reaching support level 1.1050.
Alternative scenario:
An uptrend is not expected today.
Previous forecast:
Weekly forecast, May 23 - 27: break up of 1.1260 open uptrend target on 1.1460
Main scenario:
The pair is trading along a sideways trend between support 1.1215 and resistance 1.1260, where break down of 1.1215 will open downtrend target on 1.1150 and then to 1.1050.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.1260, which will be followed by moving up to resistance levels 1.1370 and 1.1460.
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 close 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.