Main scenario:
The pair is trading along a sideways trend between 1.4480 and resistance 1.4525.
A downtrend will start as soon as the pair drops below support level 1.4480, which will be followed by moving down to support level 1.4405.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.4525, which will be followed by moving up to resistance level 1.4600.
Previous forecast:
Weekly forecast, May 16 - 20: rebounding from resistance 1.4525 to support 1.4345
Main scenario:
Market is rebounding from the resistance 1.4525 with target on support level 1.4345.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1.4525, which will be followed by moving down to support level 1.4670.
Previous forecast:
Monthly forecast, May 2016: break down of 1.4480 open a target on 1.4130
Main scenario:
The pair is trading along a sideways trend between support 1.4480 and resistance 1.4815.
A downtrend will start as soon as the pair drops below support level 1.4480, which will be followed by moving down to support level 1.4130.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.4815, which will be followed by moving up to resistance level 1.5130.
Previous forecast:
Quarterly forecast, April - May, 2016: break down of 1.4480 open a target on 1.3900 - 1.3700
Main scenario:
The pair is trading along a sideways trend between support 1.4480 and resistance 1.4815.
A downtrend will start as soon as the pair drops below support level 1.4480, which will be followed by moving down to support level 1.4130 and 1.3900 - 1.3700.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.4815, which will be followed by moving up to resistance level 1.5130 and 1.5700.
Previous forecast:
Yearly forecast, 2016
Main scenario:
The pair is trading along a downtrend with target on 1.4070 that may be expected to continue while pair is trading below resistance level 1.5440. If market keeps on moving down below 1.4070, we may expect the pair to reach next support level 1.3300.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.5440, which will be followed by moving up to resistance level 1.7130.
