EUR/USD: Watch For Uptrend
Anton Kolhanov | Sep 21, 2015 10:39AM ET
Main scenario:
The pair is trading along an sideways trend between resistance 1.1390 and support 1.1265. 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 1.1480.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.1265, which will be followed by moving down to support level 1.1225 and to 1.1145.
Weekly Forecast, 21 - 25 September
Main scenario:
The pair is trading along an sideways trend between resistance 1.1390 and support 1.1265. 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 1.1480 and 1.1615.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.1265, which will be followed by moving down to support level 1.1035.
Monthly forecast, September 2015
Main scenario:
The pair is trading along an downtrend to 1.0730.
The downtrend may be expected to continue while pair is trading below resistance level 1.1380, which will be followed by reaching support level 1.0730 and if it keeps on moving down below that level, we may expect the pair to reach support level 0.9900, or will have correction to 1.1380.
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 1.1770 and then to 1.2250.
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Long-term forecast, September - November, 2015
Main scenario:
The pair is trading along an 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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