Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.5790 which will be followed by reaching support level 1.5630 - 1.5580.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5790, which will be followed by moving up to resistance level 1.5890.
Previous forecast:
Weekly Forecast, 15 - 19 December
Main scenario:
The pair is trading along an sideways trend
An uptrend will start from support level or as soon, as the pair rises above resistance level 1.5735, which will be followed by moving up to resistance level 1.5970.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.5630, which will be followed by moving down to support level 1.5525.
Previous forecast:
Monthly forecast, December - January
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.5800, which will be followed by reaching support level 1.5525 - 1.5200.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5800, which will be followed by moving up to resistance level 1.6200 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1.6720.
Previous forecast:
Long-term forecast: May - August
Main scenario:
The pair is trading along an uptrend.
An downtrend has already started from resistace level 1.7040, which will be followed by moving down to support level 1.6250 and then to 1.5500 - 1.5200.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.7230, which will be followed by moving up to resistance level 1.7800 and 1.9200.