Despite the differences between the indicators and graphical analysis, it was suggested that EUR/USD would hold out in the range between 1.1000 and 1.0800 until the very end of 2015. The forecast panned out as the pair rose to 1.0990 on Monday and dropped to 1.0850 on 31 December 2015.
For a second week in a row, only technical and graphical analysis has been used for the forecasts as all leading analysts are still on holidays. However, the review above shows that one may do without their advice just as well – the precision of the forecasts only improves :)
Forecast for the upcoming week:
90% of the indicators on H4 and D1 and graphical analysis on the confidently show that EUR/USD will continue to fall to support at 1.0515 or somewhat further to the March low of 1.0450. At the same time, graphical analysis on H1 warns that before starting the fall, the pair can briefly rise to resistance at 1.0900.
Roman Butko, NordFX