Gold: May 09, 2014
Forex Million | May 09, 2014 03:15AM ET
Main scenario:
The pair is trading along an sideways trend.
An uptrend will start from support levels 1289.50, which will be followed by moving up to resistance level 1294 and then to 1302.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1287, which will be followed by moving down to support level 1284 and then to 1277.
Previous forecast:
Weekly Forecast, 05 - 09 May
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1293 - 1282, which will be followed by reaching resistance level 1320/27 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1355.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1282, which will be followed by moving down to support level 1263.
Previous forecast:
Monthly forecast, May - June
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1282, which will be followed by reaching resistance level 1320/27 and then to 1355.
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Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1282, which will be followed by moving down to support level 1242/24.
Previous forecast:
Long-term Forecast: March - May
Main scenario:
The pair is trading along an sideways trend.
An uptrend will start as soon, as the pair rises above resistance level 1392, which will be followed by moving up to resistance level 1560.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1234, which will be followed by moving down to support level 1080 - 975.
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