Regarding EUR/USD , those 40% of the experts that predicted a fall were right. The forecast of graphical analysis on H4 also turned out correct, indicating that last week’s bottom would be around 1.1130. On Thursday, the pair almost reached this level, stopping at 1.1143.
Forecast for Upcoming Week
Summing up the opinions of several dozen analysts from world leading banks and broker companies and forecasts based on different methods of technical and graphical analysis, the following can be predicted:
This week will be filled with releases of various important economic data. Perhaps, that is why there is no consensus among the experts regarding EUR/USD . Thus, 55% of them insist on the pair’s rise and transition to 1.1340-1.1470. The rest of the analysts, graphical analysis and the indicators on H4, on the other hand, point to a possible fall to 1.1055. In this case, there may be a slight rise to resistance at 1.1220 before the fall.
Roman Butko, NordFX