Main scenario:
The pair is trading along an sideways trend.
The uptrend may be expected to continue in case the market rises above resistance level 1.6290, which will be followed by reaching resistance level 1.6430.
Alternative scenario:
An downtrend is already started from resistance level 1.6250, which will be followed by reaching support level 1.6100.
Previous forecast:
Weekly Forecast, 15 - 19 September
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.6290, which will be followed by reaching support level 1.6040 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.5715.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.6290, which will be followed by moving up to resistance level 1.6340 and possible 1.6660.
Previous forecast:
Monthly forecast, September - October (updated 09/08/14)
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.6250, which will be followed by reaching support level 1.5720 - 1.5525.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.6250, which will be followed by moving up to resistance level 1.6660.
Previous forecast:
Long-term forecast: May - August
Main scenario:
The pair is trading along an uptrend.
An downtrend has already started from resistace level 1.7040, which will be followed by moving down to support level 1.6250 and then to 1.5500 - 1.5200.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.7230, which will be followed by moving up to resistance level 1.7800 and 1.9200.