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EUR/USD Trading Along A Sideways Trend

Published 07/30/2014, 06:16 AM
Updated 07/09/2023, 06:31 AM

Main scenario:
The EUR/USD is trading along a sideways trend.
The downtrend may be expected to continue in case the market drops below support level 1.3425, which will be followed by reaching support level 1.3360.

Alternative scenario:
Today is possible correction to the resistance level 1.3460.

EUR/USD Hour Chart

Previous forecast:

EUR/USD Hour Chart


Weekly Forecast: 29 July - 1 August

Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.3585, which will be followed by reaching support level 1.3360 and then to 1.3220.

Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.3485, which will be followed by moving up to resistance level 1.3460.

EUR/USD Hourly Chart

Previous forecast:
EUR/USD Hourly Chart

Monthly forecast: July - August updated 07/07/14

Main scenario:
The pair is trading along a sideways trend.
A downtrend will start as soon, as the pair drops below support level 1.3485, which will be followed by moving down to support level 1.3220.

Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.3640, which will be followed by moving up to resistance level 1.3860.

EUR/USD Daily Chart

Previous forecast:
EUR/USD Daily Chart

Long-Term Forecast: May - August

Main scenario:
The pair is trading along a sideways trend.
An downtrend is already started from resistance level 1.4000, which will be followed by moving down to support level 1.3480 and then to 1.2800 - 1.2300.

Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.4000, which will be followed by moving up to resistance level 1.4850.

EUR/USD Monthly Chart

EUR/USD Weekly Chart

Previous forecast:

EUR/USD Weekly Chart

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