EURUSD forecast
14 July 2010
Today chart
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Forecast of the week, 07/12–07/16
The pair is trading along an uptrend, bur all of the signs of potential turn are present. The most critical point is at rebound from key resistance level 1.2720, where the neckline of “head and shoulders” figure from monthly graph passes. In case the pair goes down after that and moves further below level 1.2540, a downtrend will be started with the drop target set at support level 1.2400. Next there will be two variants of events to develop:
1. If the pair keeps on moving down below level 1.2315, the downside momentum will grow stronger and the pair will reach support level 1.2010.
2. If the pair rebounds from level 1.2400 and moves up above level 1.2565, an uptrend will be started with the upside target set at level 1.3150.
Otherwise, if the pair won’t manage to go from current levels to area below level 1.2540 and will rise above resistance level 1.2720, an uptrend will be started with the upside target set at level 1.3150.
Forecast monthly, June
The pair is trading along the downtrend having the drop target set at level 1.1000. If it goes under level 1.1645, the downside momentum will grow stronger.
An uptrend will be started in case the pair rises above level 1.2400, which will be followed by moving up to resistance level 1.2720. If the pair keeps on rising above that level, it will reach level 1.3450.
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Forecast of the week, 07/12–07/16
The pair is trading along an uptrend, bur all of the signs of potential turn are present. The most critical point is at rebound from key resistance level 1.2720, where the neckline of “head and shoulders” figure from monthly graph passes. In case the pair goes down after that and moves further below level 1.2540, a downtrend will be started with the drop target set at support level 1.2400. Next there will be two variants of events to develop:
1. If the pair keeps on moving down below level 1.2315, the downside momentum will grow stronger and the pair will reach support level 1.2010.
2. If the pair rebounds from level 1.2400 and moves up above level 1.2565, an uptrend will be started with the upside target set at level 1.3150.
Otherwise, if the pair won’t manage to go from current levels to area below level 1.2540 and will rise above resistance level 1.2720, an uptrend will be started with the upside target set at level 1.3150.
Forecast monthly, June
The pair is trading along the downtrend having the drop target set at level 1.1000. If it goes under level 1.1645, the downside momentum will grow stronger.
An uptrend will be started in case the pair rises above level 1.2400, which will be followed by moving up to resistance level 1.2720. If the pair keeps on rising above that level, it will reach level 1.3450.
Quarterly forecast, May – July
The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen at level 1.1655. If the market goes below that level, it will reach level 1.000.
An uptrend may be started upon the pair’s rising above level 1.3100. Then the market will go up to resistance level 1.4630 (“Q” trendline).
An uptrend may be started upon the pair’s rising above level 1.3100. Then the market will go up to resistance level 1.4630 (“Q” trendline).
Yearly forecast, 2010 – 2011.
The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen around 0.9890 – 1.0200. Current downtrend is in effect until the pair rises above 1.3100. Intermediate resistances are currently seen at levels 1.1655 and 1.000.
The figure will be cancelled and an uptrend will be started in case the pair rises above 1.3100. Then the upside target will be set at resistance level 1.4630.
The figure will be cancelled and an uptrend will be started in case the pair rises above 1.3100. Then the upside target will be set at resistance level 1.4630.
