JuliaFX

Forex Forecast for 7-11 December 2015

FX:EURUSD   Euro/U.S. Dollar
First, a review of last week’s forecast:
As for EUR/USD             , the past week showed vividly that fundamental events can refute all forecasts of technical analysis . Thus, the ECB’s decision on key interest rates stopped the falling trend on Thursday and brought the pair to 1-month-old values.

Forecast for the upcoming week.
Summing up the opinions of several dozen analysts from world leading banks and broker companies as well as forecasts based on various methods of technical and graphical analysis, the following can be suggested:
The indicators are at a loss about EUR/USD             , which makes sense after Mario Draghi’s speech: on the H4 timeframe, 85% of them vote for a rise; it’s already 58% on D1 while the number dwindles to 16% on W1. As for the analysts, 70% of them believe that the pair will still continue to move upwards in an effort to reach 1.1000-1.1100.

Roman Butko, NordFX
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