JuliaFX

Forex Forecast for 29 February - 4 March 2016

FX:EURUSD   Euro/U.S. Dollar
First, a review of last week’s forecast:
The vast majority of the analysts and graphical analysis on D1 predicted a fall for EUR/USD             , which happened, and the pair shed more than 200 points during the week.

Forecast for Coming Week
Generalizing the opinions of several dozen analysts from leading banks and broker companies as well as forecasts based on various methods of technical and graphical analysis, the following can be said:
The forecast for EUR/USD             for March remains unchanged – first, the pair should break through support at 1.0800 and then at 1.0700, reach the bottom around 1.0500 and try to recover losses by returning to the current level of 1.0930. This scenario is supported by 54% of the experts, 90% of the indicators and graphical analysis on D1. As for the coming week, 70% of the analysts expect the pair to bounce up and temporarily return to 1.1066-1.1150. The remaining experts are split evenly – 15% for a fall and 15% for a sideways trend.

Roman Butko, NordFX
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