EUR/USD forecast

Forecast for this week, 12-16. H4 graph (dated 04/012/10)

Forecast for this month, April. Daily graph (dated 04/05/10)

Forecast for the next quarter, April - June. Weekly graph (dated 03/22/10)

The development of 5-wave downtrend is in progress. By rebounding from key level 1.3800 the pair has completed the 4th correctional wave and now its drop target is seen at level 1.2870 (the 5th wave’s target).
Getting to 1.2870 is probable within the next 20-30 days, after which the market will begin forming a trend-turning/continuing figure. Forming of that figure may take about a month.

Let’s discuss two variants of events to proceed:
1. Direct drop to level 1.2870.

2. If the pair fails consolidating below level 1.3500 and then rises above level 1.3800, the downtrend will fade out and we will expect the pair to rise to level 1.4350 and also to 1.4600.

Forecast for the next year, 2010-2011. Monthly graph (dated 03/22/10)

The fact that the pair has quit the “P-P+” uptrend (after going below level 1.4550) granted an opportunity to drop to level 1.2750 (the “neckline” of “head and shoulders” figure). Taking to account the picture at weekly graph, this downwave is supposed to be completed at level 1.2870.

There are two variants of events to proceed:
1. The downtrend persists and the pair gets to level 1.2750. Next, in case the pair continues to drop and goes below level 1.2750, we may expect it to drop as low as to level 1.0000.

2. Alternative variant. Upon getting to level 1.2750 there is a possibility of rebound followed by an uptrend development. In case the pair rebounds from 1.2750 and rises above level 1.3100, it will get to 1.4600.

This entry was posted on Wednesday, April 14th, 2010 at 11:49 am and is filed under Altele. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.