Today’s Forecast, Wednesday 1 June
Downtrend scenario
The market is trading along an downtrend with target on 118’16.
The downtrend may be expected to continue, while market is trading below resistance level 119’155, which will be followed by reaching support level 118’16.
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 119’155, which will be followed by moving up to resistance level 120 and 120’185.
This/Next Week Forecast (May 30 – June 3, 2022)
Uptrend scenario
The uptrend may be expected to continue, while pair is trading above support level 119’15, which will be followed by reaching resistance level 121.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 119’15, which will be followed by moving down to support level 118’16.
Previous week forecast
Monthly Forecast, June 2022
Uptrend scenario
The uptrend may be expected to continue, while pair is trading above support level 117’12, which will be followed by reaching resistance level 122’31 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 126’10 – 127’15.
Downtrend scenario
An downtrend will start as soon, as the pair drops below support level 117’128, which will be followed by moving down to support level 114’26.
