EUR/USD, continue downtrend to 1.1106 while trading below 1.1160

Anton Kolhanov Anton Kolhanov

EUR/USD, Thursday forecast, August 15
The downtrend may be expected to continue, while pair is trading below resistance level 1.1160, which will be followed by reaching support level 1.1106.
An uptrend will start as soon, as the pair rises above resistance level 1.1160, which will be followed by moving up to resistance level 1.1180 and 1.1222.

Weekly forecast, August 12 - 16
An uptrend will start as soon, as the pair rises above resistance level 1.1210, which will be followed by moving up to resistance level 1.1270 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1.1370.
An downtrend will start as soon, as the pair drops below support level 1.1160, which will be followed by moving down to support level 1.1106 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.1027.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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