Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue in case the market drops below support level 1.5745, which will be followed by reaching support level 1.5635.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5850, which will be followed by moving up to resistance level 1.5970.
Previous forecast:
Weekly Forecast, 22 - 26 June
Main scenario:
The pair is trading along an sideways trend.
An downtrend will start as soon, as the pair drops below support level 1.5745, which will be followed by moving down to support level 1.5440.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5850, which will be followed by moving up to resistance level 1.5970 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1.6200.
Previous forecast:
Monthly forecast, June
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.5440, which will be followed by reaching support level 1.4970 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.4620. But if not, we can have correction to 1.5440.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5440, which will be followed by moving up to resistance level 1.5970.
Previous forecast:
Long-term forecast: January - June 2015
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.5530, which will be followed by reaching support level 1.4535 and 1.4100.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5530, which will be followed by moving up to resistance level 1.6700.
Previous forecast:
