Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading above support level 1212, which will be followed by reaching resistance level 1193.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1212, which will be followed by moving up to resistance level 1225.
Previous forecast:
Weekly Forecast, May 25th-29th
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1212, which will be followed by reaching support level 1179.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1212, which will be followed by moving up to resistance level 1225 and then to 1238.
Previous forecast:
Monthly forecast, May
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading above support level 1213, which will be followed by reaching resistance level 1160 and if it keeps on moving down below that level, we may expect the pair to reach support level 1100.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1213, which will be followed by moving up to resistance level 1239 and then to 1282.
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 1325, which will be followed by reaching support level 1080 and 975.
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.
Previous forecast: