EUR/USD Forecast: Downtrend To Continue
Forex Million | May 20, 2015 07:03AM ET
EUR/USD Forecast
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.1205, which will be followed by reaching support level 1.1000.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.1205, which will be followed by moving up to resistance level 1.1345.
Previous forecast:
Weekly Forecast, May 18th-22nd
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1.1345, which will be followed by reaching resistance level 1.1600.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1.1345, which will be followed by moving down to support level 1.1000.
Previous forecast:
Monthly forecast, May
Main scenario:
With rebound from resistance level 1.1285 - 1.1390, the pair is now trading along a sideways trend.
The uptrend may be expected to continue in case the market rises above resistance level 1.1390, which will be followed by reaching resistance level 1.1890 and then to 1.2250.
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Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1.1000, which will be followed by moving down to support level 1.0580 - 1.0490 and if it keeps on moving down below that level, we may expect the pair to reach support level 0.9900.
Previous forecast:
Long-term forecast, January - June 2015
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue in case the market drops below support level 1.2260, which will be followed by reaching support level 1.1000.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.2260, which will be followed by moving up to resistance level 1.3940.
Previous forecast:
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