User Name: Password:      Register - Lost password?
FOREX Forum

Forex Forum     ← Back to Forums


Sort Order: Latest Post on Top - Latest Post Last            Post Reply

Amsterdam NordFX  11:31:37 GMT - 09/25/2016  
First, a review of last week’s forecast:

– the most intriguing for EUR/USD last week was whether the ascending channel, which had started in July, would continue. However, the acting of the pair didn’t give a clear answer to that question. Indeed, after the breakout, as expected, the pair went down to the support in the area of 1.1100–1.1120. But then, having rebounded from it the pair returned to the lower boundary of the uptrend and, having turned it into the resistance, continued its moving upwards;

– as a reminder, assessing possible acting of GBP/USD, experts split into three almost equal groups: 35% voted for the pair’s fall, 30% - for its rise, and 35% for the sideways trend. Eventually, the last camp turned out to be right – using the central line of summer sideways channel of 1.3060 as the resistance, the pair had been moving eastward during the whole week. With this, the bears didn’t cease to test the level of 1.2950, but the bulls could fight off all those attacks, and eventually the pair wrapped up the week at the level of 1.2960;

– as for USD/JPY, the Interest Rate Decisions of the central bank of Japan and the US Fed (which, as expected, were kept on hold) were no so much determining as the commentary on the monetary policy of those countries. Eventually, having kept within the sideways range during the first two days, on Wednesday the pair surged up – to the resistance of 102.80, and then, as the graphical analysis expected, it plunged. Having broken through the support of 100.50, by inertia the pair went further 40 points down – to the level of 100.10, and afterwards, when it calmed down a little, it returned to the specified area – to the area of 100.50–101.25;

– Wednesday was also determining for USD/CHF. And if until now the pair had been moving without moving apart from the pivot point of 0.9800, then, mirroring the acting of EUR/USD, it plunged. The technical analysis indicated two levels of support – 0.9685 and 0.9640, however, the pair preferred the average value and chose the level of 0.9660 as the week low, and afterwards, having bounced off it, it returned to the area of 0.9685–0.9740.

***
Forecast for the Upcoming Week:
Summing up the opinions 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 suggested:

– EUR/USD. 95% of indicators on H4 and 80% on D1 point to the north. As for the analysts, 60% of them vote for the pair’s rise, and 40% - for its fall. This time the number of supporters of the sideways movement of the pair was zero. If the camp, voting for rise, wins, then the pair will return to the range of the ascending medium-term channel and consolidate above its lower boundary, alongside which it has been currently moving. In this scenario the minimum goal is to get to the area of 1.1260–1.1280, the target for the next weeks - 1.1410. As for the supporters of its fall, they indicate the level of 1.1120 as the target, the next support will be at 1.1045. It should be noted here, that unlike the week forecast, in medium term around 75% of experts give priority to the bears;

– the forecast for GBP/USD remains virtually unchanged. The most analysts, fully backed by the graphical analysis on H4 and D1, insist that the pair will continue to go down to the lower boundary of the three-month sideways trend – to 1.2850, and afterwards a reverse of the trend and return of the pair to the resistance of 1.3060 should follow.

– as for USD/JPY, the majority of analysts – 70%, backed by the indicators and the graphical analysis on D1, insist that the pair will continue its downtrend. With this, it should be noted, that currently the pair is at the level of very strong support – 101.00, and significant efforts might be required to get over it. If successful, the target of the pair will be the area of 99.00-100.00. According to the graphical analysis, during the month the pair might go further down – to the support of 96.50, afterwards it will return to the level of 101.00;

– talking about the near future of USD/CHF, 60% of experts and indicators on H4 and D1 believe that the pair should once again test the low of 0.9660, and possibly reach the bottom in the area of 0.9600. However, then the pair will nevertheless return to the pivot point of 0.9800, and more than 70% of analysts are sure about that.

Roman Butko, NordFX

Notice: These materials should not be deemed as a recommendation for investment or guidance for working on financial markets and they are for informative purposes only. Trading on financial markets is risky and it can lead to loss of money deposited.






Actionable trading levels delivered LIVE to YOUR charts

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 27 May 2019
AAGB/US- Holiday
Tue 28 May 2019
A 14:00 US- Consumer Confidence
C 13:00 US- Case-Shiller
Wed 29 May 2019
A 08:55 DE- Employment
AA 18:00 US- BOC Decision
A 18:30 US- EIA Crude
Thu 30 Mar 2019
AAEZ/CH- Holiday
A 12:30 US- Weekly Jobless
Fri 31 Mar 2019
AA 10:00 EZ- Flash HICP
A 12:30 US- Personal Income, Spending, Deflator
AA 14:00 US- Final Univ of Michigan


Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube




pic

Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
The Amazing Trader
Forex Opportunities
Forex Affiliates
Forex CopyTrading
GVI Forex