Today chart
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Forecast of the week, 07/05–07/09
The pair is trading along the uptrend having the upside target set at
level 1.2730 (the neckline of “head and shoulders” figure at monthly graph). Current level 1.2530 belongs to the red weekly downtrend’s higher bound, and now the pair is striving to
rise above it. In case the market gets over level 1.2580, the upside momentum will
grow stronger and the pair will reach level 1.3150. However if it fails rising above 1.2730, the pair will have a good chance to develop a correction towards support level 1.2350.
The downtrend will be started in case the pair retreats below level 1.2505, which will be followed by moving down to support 1.2290. After reaching that level there will be two variants of events to proceed. The first and the basic variant is further downside, yet we can’t exclude the alternative variant:
1. In case the pair goes under 1.2290 and then under 1.2200, downside momentum will grow stronger and the drop target will be seen at level 1.1930.
2. In case the pair rebounds from 1.2290 and consequently rises above level 1.2460, an uptrend will be started with the upside target set at 1.2730.
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).
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.
) intr-o 
