Weekly forecast: further break up of 1108 will open a road on 1135
Main scenario:
The pair is trading along an sideways trend between resistance 1108 and supports 1093 - 1076.
From resistance 1108 I expect correction on support level 1093 and if it keeps on moving down below that level, we may expect the pair to reach support level 1076.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1108, which will be followed by moving up to resistance level 1135.
previous forecast:
Monthly forecast, January 2016
Main scenario:
The pair is trading along an sideways trend between support 1050 and resistance 1076 levels.
The downtrend may be expected to continue in case the market drops below support level 1050, which will be followed by reaching support level 1008.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1076, which will be followed by moving up to resistance level 1095 and then to 1135.
previous forecast:
Quarterly forecast, January - March, 2016
Main scenario:
The pair is trading along an 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 an 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 correcton 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.