Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1193, which will be followed by reaching support level 1178.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1193, which will be followed by moving up to resistance level 1204.
Previous forecast:
Weekly Forecast, 1 - 5 June
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1193, which will be followed by reaching support level 1178 and then to 1160.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1193, which will be followed by moving up to resistance leve 1212 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1238.
Previous forecast:
Monthly forecast, June
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 1178 and then to 1160.
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 1250.
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: