EURUSD forecast
12 August 2010
Today chart
Current trend is descending.
The downward trend can start its development in a case of the pair movement below the level of 1.2850, after that the arrival on the support level of 1.2750 will happen.
Upward trend can start its development in a case of the pair movement higher the level of 1.2950, after that the arrival on the resistance level of 1.3040 will happen.
Forecast of the week, 08/09–08/13
Current trend is ascending.
The downward trend can start its development in a case of the pair movement below the level of 1.3200, after that the arrival on the support level of 1.3010 will happen.
Upward trend can start its development in a case of the pair movement higher the level of 1.3305, after that the arrival on the resistance level of 1.3400 and 1.3600 will happen.
Forecast monthly, August
The pair is trading within the “C-C+” uptrend in the 5th wave, having the upside target seen at resistance cloud around levels 1.3425 and 1.3620. However, this trend may be completed at level 1.3305 as well. Anyway, as soon as the market reaches either stated level, a correction is supposed to start, which will cause the uptrend to continue (which is least probable) or a downtrend to begin development in case the pair drops below level 1.3180. After that the market will head to key support level 1.2770.
Current trend is descending.
The downward trend can start its development in a case of the pair movement below the level of 1.2850, after that the arrival on the support level of 1.2750 will happen.
Upward trend can start its development in a case of the pair movement higher the level of 1.2950, after that the arrival on the resistance level of 1.3040 will happen.
Forecast of the week, 08/09–08/13
Current trend is ascending.
The downward trend can start its development in a case of the pair movement below the level of 1.3200, after that the arrival on the support level of 1.3010 will happen.
Upward trend can start its development in a case of the pair movement higher the level of 1.3305, after that the arrival on the resistance level of 1.3400 and 1.3600 will happen.
Forecast monthly, August
The pair is trading within the “C-C+” uptrend in the 5th wave, having the upside target seen at resistance cloud around levels 1.3425 and 1.3620. However, this trend may be completed at level 1.3305 as well. Anyway, as soon as the market reaches either stated level, a correction is supposed to start, which will cause the uptrend to continue (which is least probable) or a downtrend to begin development in case the pair drops below level 1.3180. After that the market will head to key support level 1.2770.
Forecast quarterly, August–October
After the pair rose above level 1.2760 (quit from the “F-F+” downtrend), it is now trading along an uptrend (the “a” wave) having the upside target seen at resistance cloud around 1.3425–1.3620. We may expect the “b” downside correctional wave to begin from those levels with the target set at key support levels 1.2760–1.2600. After the pair gets to those levels, there will be 2 variants of events to proceed:
1. If levels stated grant a decent support, the “c” upside wave will start with the target set at resistance level 1.4450.
2. If the pair drops below level 1.2600, a downtrend will start having the downside target seen at level 1.1650.
* To get an idea about turning levels for the waves mentioned, see monthly and weekly forecasts.
1. If levels stated grant a decent support, the “c” upside wave will start with the target set at resistance level 1.4450.
2. If the pair drops below level 1.2600, a downtrend will start having the downside target seen at level 1.1650.
* To get an idea about turning levels for the waves mentioned, see monthly and weekly forecasts.
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.
