EUR/USD: more ups and downs

Skandinaviska Enskilda Banken (SEB) made a forecast related to EUR/USD with the stated that the pairs will be in more ups and downs: the price will break 1.05 and 1.04 support level before go up to 1.0830. It means the following: the price will be in ranging market condition with the following steps:

• price will continuing in the primary bearish condition for breaking 1.05/1.04 levels' area, and after that
• the price will start local uptrend as the bear market rally within the primary bearish condition with 1.0830 as the target.

As we see from the chart above - the price is on bearish market condition for the breaking 1.0616 support level from above to below for the bearish trend to be contining with 1.0461 level as the next bearish target. Thus, SEB nmade a forecast that the price may touch this 1.0461 level from above and bounce from it to 1.0818 resistance area on the 'downs and ups' way.

The Strategy: watch the price to go to be near 1.0461 level to open buy trade.