The previous forecast was fulfilled 100%:
- regarding EUR/USD, 73% of the analysts insisted that the pair would first fall to support at 1.1300 and then down to 1.1120. Until mid-Thursday, the pair barraged against the level of 1.1300 but on the news about the ECB's interest rate, it crashed to the mentioned level of 1.1120. One would think that EUR/USD might stop there, however, thanks to the National Bank of China, the pair broke through this support level on Friday and reached the landmark of 1.1000 where it had been last in the middle of August.
The forecast for the coming week.
Summarizing the views 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 put forward:
- the indicators clearly point downwards for EUR/USD. However, 50% of the analysts and graphical analysis suggest that the pair will be moving in a sideways corridor of 1.1000-1.1100. They are backed by another 33% of the analysts, differing only in that they drop the support line by 50 points to 1.0950. Just 17% of the analysts insist the pair would return to the 1.1300 resistance
Roman Butko, NordFX
- regarding EUR/USD, 73% of the analysts insisted that the pair would first fall to support at 1.1300 and then down to 1.1120. Until mid-Thursday, the pair barraged against the level of 1.1300 but on the news about the ECB's interest rate, it crashed to the mentioned level of 1.1120. One would think that EUR/USD might stop there, however, thanks to the National Bank of China, the pair broke through this support level on Friday and reached the landmark of 1.1000 where it had been last in the middle of August.
The forecast for the coming week.
Summarizing the views 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 put forward:
- the indicators clearly point downwards for EUR/USD. However, 50% of the analysts and graphical analysis suggest that the pair will be moving in a sideways corridor of 1.1000-1.1100. They are backed by another 33% of the analysts, differing only in that they drop the support line by 50 points to 1.0950. Just 17% of the analysts insist the pair would return to the 1.1300 resistance
Roman Butko, NordFX