Main scenario:
The pair is trading along a sideways trend between support 1057 and resistance level 1080.
An uptrend will start as soon as the pair rises above resistance level 1080, which will be followed by moving up to resistance level 1094 and then to 1122.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1057, which will be followed by moving down to support level 1045.
Monthly forecast, December 2015
Main scenario:
The pair is trading along a downtrend with target on 1008 and 970, that may be expected to continue while pair is trading below resistance level 1069 - 1094.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1194, which will be followed by moving up to resistance level 1160.
Long-term Forecast: September - November, 2015
Main scenario:
The pair is trading along a downtrend with target on 970 - 880 and may be expected to continue, while pair is trading below resistance level 1170.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1170, which will be followed by moving up to resistance level 1325 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1560 or we will have correction to 1170.