EUR/USD: Break Up Of 1.1030 Will Start Uptrend To 1.1155
Anton Kolhanov | Oct 19, 2016 05:18AM ET
Main scenario:
The market is trading along a sideways trend between support 1.0975 and resistance 1.1030.
An uptrend will start as soon as the market rises above resistance level 1.1030, which will be followed by a move up to resistance level 1.1155.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1.0975, which will be followed by a move down to support level 1.0870.
Previous forecast:
Monthly forecast, October 2016: break up of 1.1240 will start uptrend to 1.1450
Main scenario:
The market is trading along a sideways trend between support 1.1120 and resistance 1.1240.
An uptrend will start as soon as the market rises above resistance level 1.1240, which will be followed by a move up to resistance level 1.1450.
Alternative scenario:
A downtrend will start as soon as the market drops below support level 1.1120, which will be followed by a move down to support level 1.0975.
Previous forecast:
Quarterly forecast, July - September, 2016
Main scenario:
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The pair is trading along an 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.
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.
Previous forecast:
Yearly forecast, 2016
Main scenario:
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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.
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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