EUR/USD: Downtrend To 1.1100
Anton Kolhanov | Aug 30, 2016 03:53AM ET
EUR/USD Main scenario:
The pair is trading along a downtrend with target on 1.1100, that may be expected to continue, while pair is trading below resistance level 1.1230.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.1230, which will be followed by moving up to resistance level 1.1320.
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previous forecast:
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/h2
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Main scenario:
The pair is trading along a downtrend with target on 1.1100, that may be expected to continue, while pair is trading below resistance level 1.1230. Also market can reach support 1.0870 if it keeps on moving down below support 1.1100.
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Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.1230, which will be followed by moving up to resistance level 1.1320 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1.1450.
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previous forecast:
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Monthly forecast, August 2016: rebound from 1.1355 with target to 1.1100
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Main scenario:
The pair is trading in uptrend, but rebounded from strongest resistance 1.1355, from that we can expect downtrend with target on support 1.1100, while market is trading below resistance 1.1355.
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Alternative scenario:
The uptrend may be expected to continue in case the market rises above resistance level 1.1450, which will be followed by reaching resistance level 1.1700.
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previous forecast:
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Quarterly forecast, July - September, 2016
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Main scenario:
The pair is trading along a sideways trend between support 1.0580 and resistance 1.1700.
An uptrend will start as soon, as the pair rises above resistance level 1.1700, which will be followed by moving up to resistance level 1.2250.
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Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1.0580, which will be followed by moving down to support level 0.9900.
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previous forecast:
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Main scenario:
The pair is trading along a downtrend with target on 0.9900 - 0.9150, that may be expected to continue, while pair is trading below resistance level 1.1713.
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Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.1713, which will be followed by moving up to resistance level 1.2250, 1.2770 and to 1.1390.
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