Today’s Forecast, Wednesday, June 1
Downtrend scenario
The market is trading along an downtrend with target on 1656.
The downtrend may be expected to continue, while market is trading below resistance level 1694.2, which will be followed by reaching support level 1656.
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1694.2, which will be followed by moving up to resistance level 1720.
This/Next Week Forecast (May 30 – June 3, 2022)
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 1750, which will be followed by reaching resistance level 1790.
Downtrend scenario
An downtrend will start as soon, as the pair drops below support level 1720, which will be followed by moving down to support level 1667.
Previous week forecast
Monthly Forecast, June 2022
Uptrend scenario
The uptrend may be expected to continue, while pair is trading above support level 1656.4, which will be followed by reaching resistance level 1759.2.
Downtrend scenario
An downtrend will start as soon, as the pair drops below support level 1656.4, which will be followed by moving down to support level 1576.6 and if it keeps on moving down below that level, we may expect the pair to reach support level 1423.
