JuliaFX

Forex Forecast for 4-8 April 2016

FX:EURUSD   Euro / U.S. Dollar
Overview of last week’s predictions:
In the previous forecast, 55% of the experts insisted that EUR/USD             should rise and transition into 1.1340-1.1470, and they were right. On Friday, the pair went up to 1.1438, bounced down to support at 1.1335 and stopped almost in the middle of this range – at 1.1392.

Upcoming Week
Summarizing the views of several dozen analysts from world leading banks and companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
According to 70% of the experts, 90% of the indicators and graphical analysis on D1, the EUR/USD             pair is predicted to rise at least to 1.1500. At the same time, half of these experts and graphical analysis reckon that the pair can aim even higher at 1.1700, with strong support of 1.1400. Conversely, the remaining 30% of the analysts and graphical analysis on H4 consider 1.1400 as strong resistance from which the pair should drop sharply to support at 1.1165. The beginning of the week will make it clear which scenario will play out.

Roman Butko, NordFX
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