EUR/USD forecast
Yesterday, 11:34
Today chart
Forecast for this week, 03.05 - 07.05. H4 graph

Forecast for this month, April - May. Daily graph (dated 04/26/10)
The pair has left the “B-B+” correctional uptrend, which speaks about development of a downtrend at the moment with the drop target seen at level 1.2870 – the fifth wave’s target.
Level 1.3200 offered a fair support for the pair and now we may expect a slight correction towards resistance level 1.3490, from where the downtrend development will be resumed. A more confident downtrend will begin after the pair goes under levels 1.3270 and 1.3200, after that it will head to intermediate support 1.3090 (“F” trendline) and then to target level 1.2870.
Uptrend development may begin if the pair rises above resistance 1.3584 (leaves the “F-F+” channel), after which it will head to intermediate resistance 1.3770, and if it gets over it the next upside target will be set to level 1.3960.

Forecast for the next quarter, April - June. Weekly graph (dated 03/22/10)
The development of 5-wave downtrend is in progress. By rebounding from key level 1.3800 the pair has completed the 4th correctional wave and now its drop target is seen at level 1.2870 (the 5th wave’s target).
Getting to 1.2870 is probable within the next 20-30 days, after which the market will begin forming a trend-turning/continuing figure. Forming of that figure may take about a month.
Let’s discuss two variants of events to proceed:
1. Direct drop to level 1.2870.
2. If the pair fails consolidating below level 1.3500 and then rises above level 1.3800, the downtrend will fade out and we will expect the pair to rise to level 1.4350 and also to 1.4600.

Forecast for the next year, 2010-2011. Monthly graph (dated 03/22/10)
The fact that the pair has quit the “P-P+” uptrend (after going below level 1.4550) granted an opportunity to drop to level 1.2750 (the “neckline” of “head and shoulders” figure). Taking to account the picture at weekly graph, this downwave is supposed to be completed at level 1.2870.
There are two variants of events to proceed:
1. The downtrend persists and the pair gets to level 1.2750. Next, in case the pair continues to drop and goes below level 1.2750, we may expect it to drop as low as to level 1.0000.
2. Alternative variant. Upon getting to level 1.2750 there is a possibility of rebound followed by an uptrend development. In case the pair rebounds from 1.2750 and rises above level 1.3100, it will get to 1.4600.
