Chart: http://bi0l.blogspot.com/2016/05/eurusd-d1-monthly-forecast-2016-05.html
Weather (Monthly):
Calculated monthly level:
Support (S1-m / S2 / S3 = 1.1283 / 1.1225 / 1.1130), resistance (R1-m / R2 / R3 = 1.1472 / 1.1530 / 1.1624).
Key support levels (1st from 1.1141 to 1.1322 late in the day, 2nd 1, 1077 to 1.1143).
The pair is adjusted upward channel Up W1 canal (from 1.0975 to 1.1071).
Trending indicators Ichimoku, EMA24, EMA120 indicate the general direction of movement UP-quotations.
Indicator OsMa marked increase in activity of bulls in the sample (down H4 broken), which provides the basis for planning of trading correction.
Given the status and focus oscillators Stochastics, expect a test level 1.1472 (R1-m), where it is recommended to consider the activities of the parties on the charts of smaller timeframes.
For shopping, subject to the breakup above calculated resistance levels (R1-m), target levels can be (R2, R3, EMA521).
For alternative short position correction, on condition of formation of reversal levels (R1-m,) and the return rate to the key support levels, target levels may be some turn (EMA120, up H4, middle of Up W1 channel, down H4 broken, S1- m), provided the following breakdown for S1-m (S2, S3, key support levels, Down W1 broken).
