EUR/USD Downtrend To Continue Below 1.1370
Anton Kolhanov | Oct 19, 2015 04:29AM ET
EUR/USD
Main scenario:
The pair is trading along a downtrend with target on 1.1275 and below that may be expected to continue while pair is trading below resistance level 1.1370.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.1370, which will be followed by moving up to resistance level 1.1450.
Weekly Forecast, 19 - 23 October
Main scenario:
The pair is trading along a downtrend with target on 1.1150 that may be expected to continue while pair is trading below resistance level 1.1490.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.1490, which will be followed by moving up to resistance level 1.1615.
Monthly forecast, October 2015
Main scenario:
The pair is trading along a sideways trend between resistance 1.1390 and support 1.1110 levels. A downtrend will start as soon as the pair drops below support level 1.1110, which will be followed by moving down to support level 1.0980 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.0730.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.1390, which will be followed by moving up to resistance level 1.1770.
Long-term forecast, September - November, 2015
Main scenario:
The pair is trading along a sideways trend.
The downtrend may be expected to continue in case the market drops below support level 1.0730, which will be followed by reaching support level 0.9900 - 0.9150.
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Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.1380, which will be followed by moving up to resistance level 1.2250.
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