The forecast for EUR/USD panned out almost fully – according to the experts and graphical analysis on H1, the pair was supposed to be in a sideways trend, rebound from the upper boundary of the channel early in the week, then drop and return to the upper boundary.
Forecast for Coming Week
Summing up the views of several dozen analysts from world leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis the following can be said:
Regarding EUR/USD , 75% of the indicators vote for the pair’s rise while most exerts support sentiment. In line with the latter, graphical analysis on D1 draws a further downward tunnel and indicates that in the first half of the week, the pair will go down to the lower boundary of 1.0650 and then bounce off to the upper boundary at 1.0900. At the same time, a look further down the tunnel shows that it finishes at last year’s low of 1.0450. The pair may reach this level already by the end of this month.
Roman Butko, NordFX