EUR/USD, Monthly forecast, May


Main scenario:
With rebound from resistance level 1.1285 - 1.1390, the pair is now trading along an sideways trend.
The uptrend may be expected to continue in case the market rises above resistance level 1.1390, which will be followed by reaching resistance level 1.1890 and then to 1.2250.

Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.1000, which will be followed by moving down to support level 1.0580 - 1.0490 and if it keeps on moving down below that level, we may expect the pair to reach support level 0.9900.

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