Main scenario:
The pair is trading along a sideways trend between resistance 1260 and support 1254.
A downtrend will start as soon as the pair drops below support level 1254, which will be followed by moving down to support level 1240 and then to 1215.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1260, which will be followed by moving up to resistance level 1284.
Previous forecast:
Weekly forecast, Apr 11 - 15: rebounding from 1260 to support 1215
Main scenario:
The pair is trading along a sideways trend between support 1241 and resistance 1260.
A downtrend will start as soon as the pair drops below support level 1241, which will be followed by moving down to support level 1215.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1260, which will be followed by moving up to resistance level 1282.
Previous forecast:
Monthly forecast, April 2016: downtrend to 1190 and then 1134
Main scenario:
The pair is trading along a downtrend with target on 1190 and if it keeps on moving down below that level, we may expect the pair to reach support level 1134, in another way market can have a correction to resistance 1225.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1241, which will be followed by moving up to resistance level 1260 and 1282.
Previous forecast:
Quarterly forecast, January - March, 2016
Main scenario:
The pair is trading along a downtrend with target on 970 that may be expected to continue, while pair is trading below resistance level 1095.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1095, which will be followed by moving up to resistance level 1190.
Previous forecast:
Yearly forecast, 2016
Main scenario:
The pair is trading along a downtrend with target on 970, and if it keeps on moving down below that level, we may expect the pair to reach support level 670, but in other way from 970 we can expect correction on resistance level 1190.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1325, which will be followed by moving up to resistance level 1560 - 1750.
