EUR/USD Trading Sideways, Downtrend Expected
Anton Kolhanov | Oct 08, 2015 02:37AM ET
EUR/USD
Main scenario:
The pair is trading along a sideways trend between resistance 1.1275 and support 1.1185 levels, where we can expect a local downtrend with target on 1.1185, while pair is trading below resistance level 1.1275.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.1275, which will be followed by moving up to resistance level 1.1335.
Weekly Forecast, 5 - 9 October
Main scenario:
The pair is trading along a sideways trend between resistance 1.1260 - 1.1335 and support 1.1110 levels. An uptrend will start as soon as the pair rises above resistance level 1.1335, which will be followed by moving up to resistance level 1.1480 and then to 1.1615.
Alternative scenario:
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.
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.
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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.
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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