EURUSD Monthly Forecast

Good day traders...
The EURUSD currency pair has dipped to a major pivot point at 1.2814. It is expected that this level of support will hold and send prices back upwards.
This particular pivot point, now acting as major support, was a major resistance. In December, 1991, it was tested as a resistance, and sent market down 2300 pips, reaching a low of 1.1590.
In July 1992, the market rallied above it. This rally was short lived, as the markets dipped below this level barely two months after, falling 2800 pips below pivot point to a low of 1.1688 in March 1993.
The resistance level was again tested in October 1994; it held and the market bounced and dipped 500 pips, after which it was broken in February 1995 and market rallied 1700 pips to a high of 1.4513.
The market soon dipped below pivot point in November 1996 and dipped 2500 pips to a low of 1.0344. It again rallied to a high of 1.2401, found no more buying interest, and dipped further to a low of 0.8188, about 4000 pips below resistance.
The resistance level was tested in January, 2004, November 2004 and May 2006. The resistance held and drove prices downwards after each test.
Resistance level was finally broken in November, 2006. Since then, it has been a major support level.
Prices rallied to a high of 1.6037 in July 2008, 3000+ pips above pivot point.
The 1.2814 major support level was tested in October 2008, held and rallied 2000 pips; tested in February 2009, and rallied 2300 pips, tested in May 2010 and rallied 1400 pips, tested in January 2011 and rallied 2073 pips, tested in January 2012 and rallied 700 pips, tested in may 2012 and rallied 900 pips.
This major support level is being tested again in this month of July, 2013. If this level holds, market should rally up to 900 pips, and find resistance at longterm down trendline at 1.3746, which is also current monthly resistance level.
A break of this support level will cause markets to dip 1000 pips. This fall should be contained at 1.1854, which is current monthly support level two.

IMOH, Clement I.
+234 802 905 9344
+234 703 569 1707