Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue in case the market drops below support level 1.5530, which will be followed by reaching support level 1.5435 and then to 1.5365.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.5610, which will be followed by moving up to resistance level 1.5740.
Previous forecast:
Weekly Forecast, July 6th-10th
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.5610, which will be followed by reaching support level 1.5290.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.5610, which will be followed by moving up to resistance level 1.5740 and then to 1.5970.
Previous forecast:
Monthly Forecast, July
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.5740, which will be followed by reaching support level 1.5290, and if it keeps on moving down below that level, we may expect the pair to reach support level 1.4970.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.5740, which will be followed by moving up to resistance level 1.5970 and 1.6200.
Previous forecast:
Long-term Forecast: January - June 2015
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.5530, which will be followed by reaching support level 1.4535 and 1.4100.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.5530, which will be followed by moving up to resistance level 1.6700.
Previous forecast: