The experts’ opinion about EUR/USD’s sentiment proved right – the pair fell by 120 points during the week. However, this is exactly how short it was of the 1.0650 low indicated by graphical analysis. Thus, the forecast came half true.
Forecast for Upcoming Week
Generalizing the opinions of scores of analysts from leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
Surprisingly, there is unanimity about EUR/USD as 75% of the analysts, all indicators on all timeframes and graphical analysis on H1 vote for a fall to 1.0650-1.0700. Alternatively, 25% of the analysts and graphical analysis on D1 support sentiment and a rise to 1.0850-1.0900. After that, however, the pair should drop trying to reach the low of the first week of last December.
Roman Butko, NordFX