EUR/USD, Weekly Forecast, May 23 - 27: Break Up of 1.1260 Open Uptrend Target on 1.1460

EUR/USD, Weekly Forecast, May 23 - 27: Break Up of 1.1260 Open Uptrend Target on 1.1460

23 May 2016, 12:50
Roberto Jacobs
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EUR/USD, Weekly Forecast, May 23 - 27: Break Up of 1.1260 Open Uptrend Target on 1.1460

Main scenario:
The pair is trading along an sideways trend between support 1.1215 and resistance 1.1260, where break down of 1.1215 will open downtrend target on 1.1150 and then to 1.1050.

Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.1260, which will be followed by moving up to resistance level 1.1370 and 1.1460.


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