Main scenario:
The pair is trading along a sideways trend between support 45.80 and resistance 46.75.
The uptrend may be expected to continue in case the market rises above resistance level 46.75, which will be followed by reaching resistance level 47.65.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 45.80, which will be followed by moving down to support level 44.85.
Previous forecast:
Weekly forecast, September 05 - 09: sideways between 44.85 - 46.75
Main scenario:
The pair is trading along a sideways trend between support 44.85 and resistance 46.75.
The uptrend may be expected to continue in case the market rises above resistance level 46.75, which will be followed by reaching resistance level 48.85.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 44.85, which will be followed by moving down to support level 43.50 and 41.10.
Previous forecast:
Monthly forecast, August/September 2016: rebound from 49.50 with target on 41.30
Main scenario:
The pair is trading in uptrend, but will rebound from main resistance level 49.50, from that we can expect start of downtrend with target on 41.30.
Alternative scenario:
The uptrend may be expected to continue in case the market rises above resistance level 49.50, which will be followed by reaching resistance level 53.00.
Previous forecast:
Quarterly forecast, July - September 2016
Main scenario:
The pair is trading along an uptrend, which may be expected to continue in case the market rises above resistance level 50.50, followed by reaching resistance level 60.00.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 46.00, which will be followed by moving down to support level 41.00 and then 34.00.
Previous forecast:
Yearly forecast, 2016
Main scenario:
The pair is trading along a downtrend with target on 28.00 - 24.00, that may be expected to continue, while pair is trading below resistance level 48.00
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 48.00, which will be followed by moving up to resistance level 60.00 and then to 75.00.
