EURUSD forecast
2 September 2010
Today chart
Current trend is ascending.
Upward trend can start its development from support level 1.2750 and from current level, after that the arrival on the resistance level of 1.2890 and 1.2970 will happen.
Supports: 1.2750
Ressitances: 1.2890, 1.2970
Forecast of the week, 08/30–09/03
The pair is trading around key resistance level 1.2750 within the “a-a+” downtrend. As long as it is staying below level 1.2750, the “a-a+” channel has a chance to resume downtrend; and the downtrend will grow stronger in case the pair drops below level 1.2655, which will be followed by moving down to support level 1.2430. Otherwise, an uptrend will be started if the pair rises above level 1.2810, which will be followed by moving up to resistance level 1.2890. If the upside persists above that level, the pair will then strive to reach resistance 1.3150.
Forecast monthly, September
While the pair is trading under key resistance level 1.2750 (the neckline of “head and shoulders” figure from monthly graph), downtrend development persists and the next downside target is seen at support cloud 1.2430–1.2315. Key support is located at level 1.2220, and in case the pair drops below that support, downtrend will resume with the downside target set at support level 1.1700. Basically, it’s worth expecting the pair to turn from levels 1.2430–1.2315, which will be followed by the upside towards levels 1.2750 and 1.3150.
Otherwise, an uptrend will start in case the pair rises above level 1.2810. If so, the market’s upside targets will be set at intermediate resistance level 1.3150, then at 1.3290 and finally at major resistance 1.3615, which is the uptrend’s target level.
Current trend is ascending.
Upward trend can start its development from support level 1.2750 and from current level, after that the arrival on the resistance level of 1.2890 and 1.2970 will happen.
Supports: 1.2750
Ressitances: 1.2890, 1.2970
Forecast of the week, 08/30–09/03
The pair is trading around key resistance level 1.2750 within the “a-a+” downtrend. As long as it is staying below level 1.2750, the “a-a+” channel has a chance to resume downtrend; and the downtrend will grow stronger in case the pair drops below level 1.2655, which will be followed by moving down to support level 1.2430. Otherwise, an uptrend will be started if the pair rises above level 1.2810, which will be followed by moving up to resistance level 1.2890. If the upside persists above that level, the pair will then strive to reach resistance 1.3150.
Forecast monthly, September
While the pair is trading under key resistance level 1.2750 (the neckline of “head and shoulders” figure from monthly graph), downtrend development persists and the next downside target is seen at support cloud 1.2430–1.2315. Key support is located at level 1.2220, and in case the pair drops below that support, downtrend will resume with the downside target set at support level 1.1700. Basically, it’s worth expecting the pair to turn from levels 1.2430–1.2315, which will be followed by the upside towards levels 1.2750 and 1.3150.
Otherwise, an uptrend will start in case the pair rises above level 1.2810. If so, the market’s upside targets will be set at intermediate resistance level 1.3150, then at 1.3290 and finally at major resistance 1.3615, which is the uptrend’s target level.
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.
