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Forex Forecast for EURUSD, GBPUSD, USDJPY, and USDCHF for 30 January - 3 February 2017


First, a review of last week’s forecast:


- The majority of analysts and graphical analysis on D1 had expected the EUR/USD pair to decline to the 1.0500 level and then to return to its Pivot Point at 1.0650. However, the pair stayed within a narrow side corridor 1.0710-1.0775 for almost the entire week and it was only on Thursday that it went down. At the same time the decline was quite small and, having found a local bottom in the Pivot Point area 1.0657, the pair turned around and went back to where it started the week, to the level of 1.0695;


- GBP/USD. Regarding the behaviour of this pair, only 35% of experts and indicators on H4 had supported its growth, although they did turn out to be right. As for graphical analysis, it had not ruled out growth of the pair to the level of 1.2550 on D1, where the pair actually finished the week after reaching the height of 1.2673;


- USD/JPY finished the week-long session at the Pivot Point level of January in the 115.60 zone. Talking about its movement within the week, the forecast given by 40% of analysts supported by oscillators on D1 and graphical analysis on H4 and D1, proved correct. Recall, they had insisted that the pair should once again test the January lows of 113.00 and 112.55, which is what ended up happening;


- USD/CHF. Most experts along with graphical analysis had expected a sideways trend from the pair, and the pair did move east obediently for the whole week in a narrow range, having kept within 0.9960-1.0025.


***

Forecast for the coming week:

Summarizing the views of a number of analysts from leading banks and brokerage firms, as well as the forecasts made on the basis of a wide variety of technical and graphical analysis methods, we can say the following:


- Speaking about the near future of EUR/USD, the vast majority (70%) of experts continue to expect the pair to decline to the level of 1.0600 and further to the area of 1.0500. As for technical analysis, the findings of oscillators differ: one would need to sell the pair if they follow H4, and to buy on D1. 15% of analysts and graphical analysis on H4 also talk about buying, indicating the height of 1.0775 as the target and the next resistance level as 1.0890. The remaining 15% of experts, together with trend indicators, have taken a neutral position;

- A similar picture emerges with respect to the behaviour of GBP/USD. The majority of experts (55%) and the indicators on H4 expect the pair to initially fall to the support at 1.2415, and then further on to 1.2255. As for the remaining analysts, indicators on D1 and graphical analysis on H4, they suggest that the pair will first reach resistance in the 1.2730-1.2775 zone. Only then will it start descending southwards. The next resistance to which graphic analysis on D1 indicates is located at the level of 1.2875;


- The opinions of the experts on the future of the USD/JPY are almost equally divided: 30% expect its growth, 40% expect it to fall and 30% take a neutral position. Trend indicators, oscillators and graphical analysis on D1 also remain neutral. But their "colleagues" on H4 are set to purchase. The Pivot Point is 115.12. The nearest resistance is 115.60, with the subsequent levels being 116.35 and 117.00. The support levels are at 114.40, 113.85 and 112.50. Regarding the medium-term forecast, it should be noted that about 70% of analysts expect the pair to grow;

- As for the last pair of our review, USD/CHF, all 100% of experts believe that the pair will not be able to stay in such a narrow sideways channel for the second week in a row. However, the views differ as to where it will go: 35% expect its growth, 65% believe it will fall. Indicators also tend to believe it will fall to the 0.9900 zone. But graphical analysis both on H4 and on D1 shows that a correction may take place before the downwards trend continues, implying that the pair may rise to the resistance in the 1.0085-1.0100 area;

- Summing up our weekly review, it is important to remember that the upcoming week will be filled with numerous events, which traditionally attract the attention of currency traders. To be precise, a decision by the Bank of Japan on interest rates is expected on Tuesday, 31 January, a similar decision by the US Federal Reserve is expected on Wednesday, 1 February, and the Bank of England is expected to announce its decision on Thursday, 2 February. In addition, at the end of the week on Friday, 3 February the ECB will hold a meeting, important economic data from China will be published, and employment data (NFP) from the United States will be released.


Roman Butko, NordFX


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


#forex #forex_forecast #eurusd #signals_forex #binary_options

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Forex Forecast for EURUSD, GBPUSD, USDJPY, and USDCHF for 06 - 10 February 2017


First, a review of last week’s forecast:


- Despite the fact that the past week was filled with important economic events, it failed to deliver any big surprises. The uptrend of the pair EUR/USD, the start of which was precisely on New Year's night 2017 (clearly visible on D1) was continued. Most experts expected the pair to decline to the rising channel's lower border in the area of 1.0600 and possibly to break through it. However, having descended to 1.0620, the pair could not penetrate the support and went up, ending the week where analysis on H4 predicted: precisely at the intersection of the centre line of the ascending channel and the strong resistance level of 1.0780;


- With regard to the forecast for GBP/USD, most analysts and indicators on H4 expected it to fall to the support 1.2415. It was already Tuesday when the pair recorded a local minimum at 1.2412. Afterwards, it turned northwards. However, by Thursday the trend had changed again and, following the Bank of England announcements, the pair fell down, losing 250 points in one and a half days;


- Recall that experts' opinions on the future of USD/JPY were almost evenly divided: 30% of them expected its growth, 40% expected it to fall and 30% took a neutral position. However, the relatively larger collective weight of the bears (by just 10%), apparently tipped the pair over, and the pair rushed downwards right from the beginning of the weekly session, easily breaking through the 113.95 Pivot Point of the side channel which was launched in mid-January, and ended the week at its lower border in the area of 112.50;


- The forecast for the USD/CHF pair came true with an accuracy close to 100%. The vast majority of experts, supported by indicators, expected it to fall to the 0.9900 zone. At the same time graphical analysis warned that a correction might follow before the down trend continued, and the pair would rise to the 1.0085 area. That is what happened: on Monday, the pair reached the upper border of the descending channel (1.0045), and then went to the south, ending the week at the level of 0.9920.

***

Forecast for the coming week:

Summarizing the views of a number of analysts from leading banks and brokerage firms, as well as the forecasts made on the basis of a wide variety of technical and graphical analysis methods, we can say the following:


- Speaking about the future of EUR/USD, the vast majority (65%) of experts believe that the target of the medium-term uptrend has not been reached yet, and the pair should rise to at least 1.0850-1.0870. Trend indicators and oscillators on D1 agree with this. As for the indicators on H4, they have taken a neutral stance, and the graphical analysis on H4 specifies the boundaries of the side corridor: 1.0700-1.0820. It should be noted that, giving the forecast for the next month, 60% of experts and graphical analysis on D1 believe that the pair will not be able to avoid falling to the level of 1.0500;


- Speaking about the future of GBP/USD, 55% of analysts, with the support of indicators and graphical analysis on H4, expect the sideways trend of the last two weeks to continue. According to this forecast, the bears will possess a certain degree of superiority, the main support will be at 1.2415, and the Pivot Point will be at 1.2542. It is within these limits that the pair should move inside in the coming days. As for the medium-term forecast, 60% of analysts and graphical analysis on D1 side with the bears, waiting for the fall of the pair to the 1.2100-1.2200 zone;


- The opinion of indicators both on H4 and on D1 unequivocally sides with the growth of the USD/JPY pair. But there is no such unity among analysts - only half of them agree with the indicators regarding the coming week. However, in the medium term, the number of growth supporters increases to 75%. The graphical analysis sides with the latter, according to its readings the local minimum for the pair is in the zone 112.07-112.50 and after reaching it, the pair should set out to conquer the peaks of the North. The resistance levels are at 116.70 and at 118.70;


- As for the last pair of our review, USD/CHF, 65% of the experts and graphical analysis on H4 are confident that having rebounded from the support in the 0.9870-0.9900 area, the pair should rise and return to the symbolic mark around 1.0000. An alternative point of view is represented by the remaining 35% of experts and graphical analysis on D1. In their view, the pair may fall even further downwards and enter a period of lateral movement in the 0.9750-0.9870 corridor. The next support is 0.9670.


Roman Butko, NordFX


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


#forex #forex_forecast #eurusd #signals_forex #binary_options

http://nordfx.com/
 
Forex Forecast for EURUSD, GBPUSD, USDJPY, and USDCHF for 13 - 17 February 2017


First, a few words about the forecast for the previous week, which proved almost 100% accurate:


- As it often happens, the medium-term forecast jumps ahead of the short-term one. Thus, in the case of EUR/USD, we saw the breakdown of the January uptrend’ lower boundary somewhat earlier than the experts had expected. However, the bears’ victory was predicted by experts with absolute precision - traders who had opened positions to sell received serious profits, as the pair lost almost 200 points during the week and designated a local bottom at 1.0607, the area of a very strong support / resistance level, which existed since November 2016;


- With regard to the forecast for GBP/USD, the majority of analysts, with the support of indicators and graphical analysis on H4, expected it to continue the sideways trend of the last two weeks. This forecast proved to be 100% correct. The speculation that the bears would have a certain advantage turned out to be true as well, it was under their pressure that the pair managed to break the very important support level of 1.2410, however briefly, and as a result, finished the week exactly where it started - in the 1.2485 zone;


- Expert opinion regarding the future of USD/JPY implied a short-term decline of the pair, after which it was supposed to turn around and conquer the peaks of the north. The heights of 113.45 and 113.95 were named as those peaks. Everything happened exactly according to the forecast: in the beginning of the week, the pair dropped slightly, and then rushed upwards, reaching the height of 113.85 on Friday (short of the second of these goals by just a meagre 10 points);


- The forecast for USD/CHF came true with an accuracy close to 100%. The vast majority of experts, along with graphical analysis on H4, were confident that, rebounding off from the 0.9870-0.9900 support area, the pair would go up and return to the milestone of 1.0000. All of this happened, and as a result the pair ended the week’s session at the level of 1.0020.


***

Forecast for the coming week:

Summarizing the views of a number of analysts from leading banks and brokerage firms, as well as the forecasts made on the basis of a wide variety of technical and graphical analysis methods, we can say the following:


- Predicting the future of EUR / USD, only 20% of experts, graphical analysis on D1, and a third of oscillators point to it being oversold, supporting the growth of the pair to the height of 1.0850-1.0870. 60% of analysts and most indicators are confident in the continuation of the downwards trend and decline of the pair to the 1.0500 zone. However, the remaining 20% of experts believe that for some time the pair may move in a sideways channel in the 1.0590-1.0715 range. It should be noted that certain adjustments in the formation of the trend could be made after the ECB meeting on Wednesday February 15 and the summit of EU leaders on February 17;


- A similar pattern is observed for GBP/USD. Here 60% of analysts, graphical analysis, and 80% of indicators are on the side of the bears. According to their forecast, the pair must first go down to the level of 1.2410 and then to 1.2350. The next support zone will be at 1.2200. At the same time, a third of experts and graphical analysis on H4 do not exclude that, reaching the bottom at the level of 1.2350, the pair will then proceed to a sideways movement in the 1.2350-1.2550 range;


- Opinions of both analysts and technical analysis on the future of USD/JPY are very vague. The experts are divided into two almost equal camps: 50% support the growth of the pair and 50% foresee a fall. Graphical analysis on D1 draws a sideways trend in the rather wide range of 111.65-114.00. Meanwhile, in the medium term almost 70% of analysts expect the strengthening of the dollar. In their opinion, the pair is sure to rise above the 115.00 horizon;


- As for the last pair of our review, USD/CHF, 100% of experts, graphical analysis, and the absolute majority of indicators look northwards, pointing to 1.0100 as the main target. There is some concern here, however, which is caused by the readings of just one third of oscillators: they signal that this pair is overbought and can possibly return to the 0.9960 support level.


Roman Butko, NordFX


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


#forex #forex_forecast #eurusd #signals_forex #binary_options

http://nordfx.com/
 
Forex Forecast for EURUSD, GBPUSD, USDJPY, and USDCHF for 20-24 February 2017

First, a review of last week’s forecast:


- Recall that when predicting the future of EUR/USD, the vast majority of analysts, supported by indicators, voted in favour of the continuation of the downtrend and the decline of the pair to the 1.0500 zone. That was what happened: for the entire first half of the week the pair moved southwards, reaching the horizon of 1.0520. Then, helped by the Chair of the US Federal Reserve, whose speech was called boring by some, the pair reversed and rose by 150 points. Then the bulls' strength was exhausted, and, having lost 70 points, the pair finished the week almost where it started: in the vicinity of a strong medium-term support / resistance level in the 1.0610 area;


- The forecast for GBP/USD also came almost entirely true. Here, the bears were supported not just by analysts and indicators, but also by graphical analysis. According to their shared opinion, the pair was supposed to initially go down to 1.2410 and then to 1.2350. At the same time, one third of experts suggested that, reaching the bottom at 1.2350, the pair would then proceed to a sideways movement in the 1.2350-1.2550 range. If you look at the chart, it is clear that all that has ended up, albeit with a permissible sway of 20-25 points;


- The opinion of both analysts, and technical analysis on the behaviour of USD/JPY was very vague last week. However, almost 70% of experts claimed that in the medium term, the pair would go up to 115.00. This is exactly what the pair did, although it did so earlier than expected: it had already reached the height of 114.95 on Wednesday. Then, just like the euro/dollar, it returned to this year's strong support/resistance level in the 112.60 area;


- The forecast for USD/CHF was also very accurate and 100% confirmed the unanimous opinion of 100% of analysts and technical analysis. Mirroring the behaviour of EUR/USD, the pair reached the goal, the height of 1.0100, in the middle of the week and then proceeded to the milestone level of 1.0000.

***

Forecast for the coming week:

Summarizing the views of a number of analysts from leading banks and brokerage firms, as well as the forecasts made on the basis of a wide variety of technical and graphical analysis methods, we can say the following:


- The next week's economic calendar is not marked by any particularly important event. Perhaps that is why expert opinions on the behaviour of EUR/USD are almost equally divided: one third predict the growth of the pair, another third predict a lateral trend and the last third suggest its fall. The latter are actively supported by graphical analysis on H4. According to this analysis, the pair should once again test the bottom at 1.0500, after which it may turn and rise to the resistance of 1.0850. As for the medium-term forecast, the picture is quite different: more than 70% of analysts actively supported by trend indicators and oscillators on D1 predict the strengthening of the dollar and the fall of the pair. The parity zone at the level of 1.0000 is named as a key target;


- A similar pattern is observed for GBP/USD. Here, 65% analysts, graphical analysis and more than 90% of indicators stand on the side of the bears. According to their forecast, the pair is expected to fall to the lower bound of the major side corridor 1.1985-1.2720, where it has been located ever since October 2016. For this to happen, however, it first has to overcome support at the level of the central line of the channel, which is 1.2345. This could delay its descent for a few days. In this case, a rebound of the pair to the resistance of 1.2550 is possible;


- The opinions of analysts and indicators about the future of USD/JPY have radically diverged. Whilst the former expect the pair to grow, the latter are confident that it will fall. The compromise option is the side corridor in the 112.40-115.00 range, this view being offered by graphical analysis on D1. The next support will be at 111.60, and the resistance will be 116.50;


- As for the last pair of our review, USD/CHF, both experts and technical analysis expect a strengthening of the bearish sentiment and the transition of the pair to a sideways trend in the 0.9960-1.0050 channel. In the event it breaks the lower border of the channel, it is possible that the pair will go down to the 0.9870-0.9900 area. As for the medium-term objectives, 75% of analysts still expect the pair to rise to the height of 1.0330.


Roman Butko, NordFX


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


#forex #forex_forecast #eurusd #signals_forex #binary_options

http://nordfx.com/
 
Forex Forecast for EURUSD, GBPUSD, USDJPY, and USDCHF for 27 February - 03 March 2017

First, a review of last week’s forecast:


- Recall that, when giving the medium-term forecast more than 70% of analysts voted for the strengthening of the dollar and the fall of EUR/USD. They were actively supported by trend indicators and oscillators on D1. As for the weekly forecast, according to graphical analysis, the pair was expected to once again test the minimum at the level of 1.0500, and then turn around and start a sharp ascent. Those traders who made use of these findings were able to get a good profit. Exactly by the middle of the week the pair found the local bottom at 1.0493, which was followed by its northwards rebound. However, the pair did not reach the expected horizon of 1.0850, but those 125 points, for which it went up, managed to deliver the bulls a significant profit;


-The forecast for GBP/USD warned that if the pair failed to overcome the support at the centre line of the large-scale side corridor, where it had been residing since October 2016, its rebound to the resistance at 1.2550 was possible. Things played out exactly like that: after failing in several attempts to break the level of 1.2400, the pair rose and spent the first half of Friday in the 1.2540-1.2565 area, before retreating to the Pivot Point of the last three weeks in the area of 1.2450;


- The opinions of analysts and indicators about the future of USD/JPY radically diverged last week. If the former had expected the pair to rise, the latter were determined that it would fall. Both appeared to be right. At first, the pair rose by 100 points. It then proceeded to drop by 165 points, returning to the values of the end of January/ beginning of February this year and vindicating the ambiguity of the latest forecasts in the process;


- USD/CHF. As is often the case, last week this pair chose not to play its own "game" and simply mirrored the behaviour of the EUR/USD, confirming the confidence of the market that the dollar will strengthen. As a result, by the middle of the week the pair reached a height of 1.0140, after which the bulls’ strength weakened and it completed the week’s session near the strong support level of 1.0075, which is easily visible on the D1 and W1 charts.


***

Forecast for the coming week:

Summarizing the views of a number of analysts from leading banks and brokerage firms, as well as the forecasts made on the basis of a wide variety of technical and graphical analysis methods, we can say the following:


- 75% of experts believe that EUR/USD will fall to the 1.0340 zone, where it had already been in December 2016, if not next week then certainly in March. 100% of trend indicators and oscillators on D1 agree with this forecast. As for short-term forecasts, the oscillators on H4 have taken a neutral position, and graphical analysis indicates a possible temporary rise to the resistance of 1.0680;


- GBP/USD. 65% of analysts are still siding with the bears here. According to their forecast, the pair still has to fall to the lower boundary of a five-month side corridor at 1.1985-1.2720. As for graphical analysis, it says that, seeing as the pair has failed to break through the centre line of the channel, it may now spend some time oscillating in the 1.2400-1.2720 range, after which it will still end up rushing to the January lows;


- It is clear that, in predicting the future of USD/JPY, all indicators point to the south. The main support is in the area of 111.60. However, the opinion of 70% of experts and graphical analysis on D1 is strictly opposite to the above. According to them, the pair should rise to the level of 114.00, before possibly ascending even higher to 115.60;


- As for the last pair of our review, USD/CHF, 70% of experts and 85% of indicators vote for the bulls’ victory and the growth of the pair to the 1.0150-1.0180 area. An alternative point of view is represented by graphical analysis, according to which, the pair is expected to move laterally dominated by bearish sentiment in the coming days, before gradually descending to 1.0000, or, potentially, even lower to the support at 0.9965.


Roman Butko, NordFX


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


#forex #forex_forecast #eurusd #signals_forex #binary_options

http://nordfx.com/
 
Forex Forecast for EURUSD, GBPUSD, USDJPY, and USDCHF for 06 - 10 March 2017


First, a review of last week’s forecast:

- EUR/USD. Many top traders have complained, with these complaints even being audible in the media, that there is a distinct lack of clear trends for this pair. They are right: it has been impossible to identify a winner in the perennial bull-bear struggle for two continuous weeks so far. The moment it seems the former will start dominating, the pair rises to 1.0630, the situation changes and the euro weakens, dropping the pair to the support level at 1.0500. Because of this uncompleted struggle, the pair finished the week in almost the same place where it started back on February 20: at 1.0622;


- Giving the forecast for GBP/USD, most analysts sided with the bears last week. They were right. The pair really rushed southwards in attempt to reach the lower boundary of the five-month side corridor 1.1985-1.2720. Again as expected, it froze its movement near the channel's centre line, stopping just below 1.2300 on Friday evening;


- Recall that the opinions of 70% of experts and the readings of graphical analysis on the future of USD/JPY were that the pair should rise to 114.00, or even higher. This forecast can be considered almost entirely fulfilled. On Friday evening, the pair reached a height of 114.75, before rushing back to marks in 114.00 area, where it met the end of the working week;


- With regard to USD/CHF, here 70% of experts and more than 85% of indicators voted in favour of the bulls' victory and a growth of the pair to the level of 1.0150. An alternative view was put forward by graphical analysis, according to which at the beginning of the week the pair was expected to move laterally with a predominance of bearish sentiment, declining to the 1.0000 support level. That is exactly what happened: having fixed the bottom on Tuesday February 28 at 1.0000, the pair turned and rushed upwards, managing to reach the height of 1.0146 by Thursday. As for the end of the week, here a mirror imitation of EUR/USD took over and the pair fell exactly to where it had started on Monday: 1.0073.


***

Forecast for the coming week:

Summarizing the views of a number of analysts from leading banks and brokerage firms, as well as the forecasts made on the basis of a wide variety of technical and graphical analysis methods, we can say the following:


- The EUR/USD upwards jump at the end of the last week's session of more than 100 points surprised many. However, despite this, more than 70% of experts expect the dollar’s growth to continue and the pair to decline to the 1.0400 area. Graphical analysis on D1 also agrees with this development. H4, however, suggests that the pair may make another leap northwards and reach the height of 1.0680. This view is shared by the remaining quarter of analysts. It is possible that their expectations are associated with a negative forecast on the change in US employment (NFP), the data for which will be announced on Friday, 10 March. According to forecasts, the number of new jobs outside the agricultural sector could decline from 227K to 170-175K;


- GBP/USD. Here, about 80% of analysts and the same proportion of trend indicators and oscillators are still siding with the bears. According to their forecast, the pair’s immediate goal is the 1.2100-1.2145 area. The opposite view is expressed by graphical analysis on H4, according to which, having reached the local bottom at 1.2200, the pair may rebound and return to the 1.2400-1.2560 zone;


- USD/JPY. The dollar is also expected to strengthen against the Japanese yen. This forecast is supported by 65% of analysts and over 80% of indicators, who believe that the pair must first climb to 116.00, before proceeding to jump upwards by another 100 points. Having said that, graphical analysis on D1 indicates that, upon meeting the resistance in the 117.00-117.50 area, the pair could turn around and descend to its current value at 114.00. This version is supported by the oscillators, some of which show that the pair is overbought;


- As for the last pair of our review, USD/CHF, the forecast for it can be summarised by "To the North and only northwards!" Almost 90% of analysts and 70% of indicators on D1 support this direction. The task is to break the 1.0140 resistance and rise to 1.0210. The remaining 10% of analysts suggest a sideways trend. The number of believers in the pair’s fall seems to be zero. This zero is a particular cause for concern – such occasions often deliver traders unpleasant surprises. However, the pair will, most likely, mirror the underlying trend, set by EUR/USD.


Roman Butko, NordFX


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


#forex #forex_forecast #eurusd #signals_forex #binary_options


www.nordfx.com
 
Forex Forecast for EURUSD, GBPUSD, USDJPY, and USDCHF for 13 - 17 March 2017


First, a review of last week’s forecast:


- Even though the ECB decided to leave the interest rate unaltered and the number of new jobs outside the agricultural sector in the United States remained virtually unchanged (235K vs. 238K), the bulls still managed to push EUR/USD to the goal that had been set by a quarter of analysts and graphical analysis on H4. Recall that 1.0680 was named as a target. The pair reached it just 3 hours before the end of the week’s session, and then finished the five-day period at the level of 1.0675;


- The forecast for GBP/USD has come true with an accuracy of 100%. About 80% of the analysts and the same amount of trend indicators and oscillators sided with the bears last week. They were right in suggesting that the pair would definitely fall to the 1.2100-1.2145 area, where it turned out to be on Wednesday, 8 March, and where it spent the rest of the week with a support level at 1.2140;


- USD/JPY. Here most analysts and technical analysis predicted the pair would grow as it strove to reach the height of 116.00. As expected, the pair indeed rushed northwards. But, short of the cherished target by just 50 points, it turned around and finished at 114.75, which can be considered Pivot Point of the last four months and the top border of the side channel, in which the pair has remained for the last eight weeks;


- Regarding USD/CHF, the forecast for this pair was: "To the north and only northwards!". The pair did, starting from Monday, rush strictly upwards. However, it failed to complete the set task of breaking the resistance 1.0140 and then rise to 1.0210, having only reached the height of 1.0170. After that, the pair, following the example of EUR/USD, reversed the trend and, having turned to the south, fell to 1.0105.


***

Forecast for the coming week:

Summarizing the views of a number of analysts from leading banks and brokerage firms, as well as the forecasts made on the basis of a wide variety of technical and graphical analysis methods, we can say the following:


- It is clear that, speaking of EUR/USD, the clear majority of indicators on H4 and D1 points to the growth of the pair. As for the larger timeframes, here the forecast changes: on W1it is neutral, and on MN strongly recommends to sell the pair. Furthermore, many oscillators on D1 show that the pair is overbought. A similar position is taken by about 85% of experts, supported by graphical analysis. According to their forecast, the pair must first descend to the level of 1.0600 and then even lower to the lows of February and March in the 1.0500-1.0520 zone. It should be noted, however, that on Wednesday, 15 March, a lot of important news from the USA is expected, which may affect the formation of the trend;


- It is difficult to give a forecast about the behaviour of GBP/USD for the coming week. Even though more than 90% of indicators point southwards, they are supported by only 40% of experts. The greater part of them, along with graphical analysis on H4, sides with the bulls, believing that the pair has reached a local bottom and now it is expected to rebound upwards to at least the 1.2250-1.2300 resistance area. The next resistance is at 1.2385, whilst the support is 1.1985. The following important events should be noted for this pair: the possibility of the Brexit procedure starting on Tuesday, 14 March and the decision of the Bank of England on interest rates on Thursday, 16 March. These will likely remain unchanged at 0.25%;


- Also the interest rate for the Japanese yen will be known on 16 March. In the meantime, analysts' opinions are divided exactly in halfway: 50% believe in pair's growth and 50% in its fall. Technical analysis, however, demonstrates rare unanimity: almost 100% of trend indicators, oscillators and graphical analysis expect the growth of USD/JPY. If their forecast is correct, starting from the support of 114.75, the pair still has to reach the height of 117.00-117.20. An alternative point of view suggests that the level of 114.75 is the upper border of the eight-week long side channel and the resistance that the pair will not be able to overcome. Thus, it will descend - first to the support 112.60 and then 100 points lower, reaching the bottom at the lower boundary of the channel;


- As for the last pair of our review, USD/CHF, 80% of analysts and trend indicators on D1 believe that the downwards rebound of the pair was temporary and that it will once again strive upwards to 1.0210. In the event that there is a break through the channel's lower border, the pair will likely fall to the 0.9966-1.0010 zone. However, in the medium term, it is still expected to grow: more than 70% of the experts name the 1.0330 highs of last December as the goal.


Roman Butko, NordFX


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


#forex #forex_forecast #eurusd #signals_forex #binary_options

www.nordfx.com
 
Forex Forecast for EURUSD, GBPUSD, USDJPY, and USDCHF for March 20 - 24, 2017


First, a review of last week’s forecast:


- The first part of the forecast for EUR/USD talked about the fall of the pair to 1.0600, which ended up happening by Tuesday evening. The fate of its future, as had been expected, was determined by the plethora of news from the USA on March 15. The Fed's decision on the interest rate, J. Yellen's press conference, and President D. Trump’s speech deployed the pair northward, as a result of which it approached December 2016-January 2017 highs in the 1.0775-1.0830 zone;


- Giving a forecast for GBP/USD, 60% of experts, along with graphical analysis on H4, sided with the bulls. They considered that the pair had already reached the local bottom and was now awaiting a rebound upwards to the resistance of 1.2300, and beyond to 1.2385. The forecast proved 100% correct, with the pair completing the week at 1.2400;


- USD/JPY. Here, the opinions of analysts were divided exactly halfway - 50% were in favour of the growth of the pair and 50% were for its fall. The argument of the latter was that 114.75 constituted the upper boundary of the eight-week lateral channel and was impenetrable as a resistance level, as a result of which the pair would have to go down to the support at 112.60. This scenario occurred with 100% accuracy.


- As for USD/CHF, despite the bullish mood of most experts, the forecast foresaw the possibility of a breakdown of the lower boundary of the six-week upward channel, which was what happened due to the decision, forecasts and comments of the US Federal Reserve. In the event of such a development, it had been assumed that the pair would find its local minimum at 0.9966. It was in this zone that the pair ended up completing the weekly session.


***

Forecast for the coming week:

Summarizing the views of a number of analysts from leading banks and brokerage firms, as well as the forecasts made on the basis of a wide variety of technical and graphical analysis methods, we can say the following:


- Although 15% of oscillators on D1 indicate the EUR/USD is overbought, the overwhelming majority of indicators points strictly northwards. Analysts' opinions are divided almost equally, 40% support the growth of the pair, 40% its fall, and 20% foresee a sideways trend. Graphical analysis on D1 offers the compromise view. According to this, the pair will be moving in the 1.0640 - 1.0850 channel in the near future. At the same time, graphical analysis on H4 also spells out a strong support level at the horizon of 1.0700. When it comes to the medium-term forecast, 70% of experts expect the pair to fall to February lows in the 1.0500 zone, and possibly 150 below that;


- In contrast to the previous pair, almost 30% of the oscillators on both H4 and D1 indicate that GBP/USD is overbought. This bearish stance is supported by about 65% of experts and graphical analysis on H4. In their view, the pair has reached the local maximum and they now expect it to decline to 1.2100. An alternative scenario is possible in case of breakthrough of resistance 1.2400. In this case, the pair will begin a lateral movement in the 1.2385-1.2570 range. At the same time, 10% of analysts believe that it may even rise to 1.2700;


- USD/JPY is now close to the strong medium-term support level of 112.60. That is why the majority (60%) of experts expect its rebound to the upper boundary of the side channel of 2017 in the area of 115.00. However, graphical analysis warns that before the start of the rise the bears may take over for a certain period. Because of that, the pair would fall to the February-March lows of around 111.60;


- As for the last pair of our review, USD/CHF, apparently, its fall last week made a strong impression on the experts. 70% of them expect it to continue plummeting to at least the support at 0.9870-0.9900. However, afterwards, according to the overwhelming majority of these experts, the pair will resume an uptrend and rush back upwards to 1.0330.


Roman Butko, NordFX


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


#forex #forex_forecast #eurusd #signals_forex #binary_options

www.nordfx.com
 
Forex Forecast for EURUSD, GBPUSD, USDJPY, and USDCHF for 27 - 31 March 2017


First, a review of last week’s forecast:


- Speaking of the EUR/USD last week, analysts were not able to give a clear forecast. Indeed, the pair behaved quite sluggishly, and neither the meeting of the ECB, nor the speech of the Head of the Fed, nor even the Trump administration’s landmark vote in the US Congress on the healthcare reform and repeal of Obamacare, could make it more dynamic. The pair's volatility kept within 100 points. As it turned out, the most accurate forecast was given by graphic analysis, denoting a strong support at the 1.0700 horizon (in reality, the pair dropped to 1.0720) and the 1.0850 resistance (in reality, there followed a rise to 1.0824);


- Regarding the forecast for GBP/USD, the alternative scenario occurred, supported by 35% of the experts. As they expected, the pair continued the upward trend and climbed up to 1.2530, and came close to the highs of this February;


- USD/JPY. Here, graphical analysis, along with 40% of analysts, expected a fall of the pair to the lows of February-March in the area of 111.60. However, the bears’ striving towards the south was so strong that they were able to break through this support and push down the pair by another 100 points. After that the bears ran out of strength, and the pair passed into the sideways trend within the range 110.62-111.57;


- Evaluating the future of the pair USD/CHF, most experts agreed that it would continue to decline to the area of 0.9870-0.9900, and this forecast was correct by 100%. On Wednesday 22nd March the pair reached the local bottom at 0.9880, and completed the week-long session at around 0.9911.


***

Forecast for the coming week:

Summarizing the views of a number of analysts from leading banks and brokerage firms, as well as the forecasts made on the basis of a wide variety of technical and graphical analysis methods, we can say the following:


- EUR/USD. At the end of last week, the pair almost reached the upper border of the corridor, which was launched back in November 2016. That is why most experts (60%), supported by graphical analysis and oscillators on D1, believes that a further growth of the pair, although possible, will be negligible, and, having reached the 1.0850-1.0900 area, it is sure to make a U-turn towards the south. According to the remaining 40% of analysts, the bulls have run out of strength and in the next week the pair is expected to decrease first to the level of 1.0650, and then even lower - to the support of 1.0520;


- A similar forecast can be made for the GBP/USD. It is possible that for some time the pair may stay in the range of 1.2420-1.2570, but then, according to 85% of analysts, it will fall to the March lows in the 1.2100-1.2200 area. One should bear in mind that on Wednesday March 29th the British government is expected to launch the Brexit process and the reaction of major players in the market at that point in time could produce some surprises to traders;


- When forecasting the future of USD/JPY, indicators, supported by graphical analysis on D1, vote for the downward trend to continue and for the pair to go down to the 108.00-109.00 zone. As for the experts, opinions are divided equally – half support the fall, while half support the growth of the pair. If we take a look at the medium-term forecast, supporters of the movement to the north prevail significantly - about 75% of analysts vote for the pair's return to the upper boundary of the 2017 sideways channel at the height of 115.00-115.50;


- As for the USD/CHF pair, both experts and graphical analysis expect that it will continue to mirror the behaviour of EUR/USD. Thus, it is not excluded to temporarily go down to the 0.9860-0.9880 zone with a subsequent rise in an attempt to reach a height of 1.0330. About 70% of analysts voted for such a scenario.


Roman Butko, NordFX


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


#forex #forex_forecast #eurusd #signals_forex #binary_options

http://nordfx.com/
 
Forex Forecast for EURUSD, GBPUSD, USDJPY and USDCHF for 03 - 07 April 2017

First, a review of last week’s forecast:


- The forecast for EUR/USD proved to be 100% accurate. Recall that the main scenario we laid out was the following: the pair’s continued growth was seen to be entirely possible albeit negligible in magnitude. Once it reached the 1.0850-1.0900 area, it would U-turn to southwards. We named 1.0650 as the nearest support. Everything occurred exactly as described: reaching the height of 1.0905 as early as Monday, the pair turned sharply and flying with a little breather 255 points, finished the week at the mark specified by experts - 1.0650;


- In the forecast for GBP/USD, analysts pointed out that the pair may stay in the 1.2420-1.2570 channel for a while. In fact, the borders of this channel ended up being 45 points wider: within a couple of weeks, the pair ranged from the minimum of 1.2375 to 1.2615 at the maximum, ending the session near a strong medium-term level of resistance in the 1.2550-1.2570 zone;


- Giving the forecast for USD/JPY, half of the experts supported the pair’s fall, and the other half its growth. That was exactly what happened. Having broken the strong support at 111.60 two weeks ago, the pair sank to 110.10 last week. It then turned around and returned to the very same support level, which now put a different hat on and became a resistance level;


- Assessing the behaviour of the pair USD/CHF last week, experts agreed that it would once again mirror the graph of the EUR/USD fluctuations. Once again, they were right: dropping to 0.9813 on Monday, the pair then turned and, having overcome 217 points, reached the height of 1.0030 on Friday.


***

Forecast for the coming week:

Summarizing the views of a number of analysts from leading banks and brokerage firms, as well as the forecasts made on the basis of a wide variety of technical and graphical analysis methods, we can say the following:


- EUR/USD. More than 80% of experts vote for the pair displaying a downwards trend, indicating the 1.0600 support as the nearest target. After that, the pair is likely to descend to 1.0525, and then even lower to the lows of February and March around 1.0495. At the same time, about one third of oscillators indicate that the pair is oversold. Connected with this there might be a temporary correction and an upwards rebound of the pair to the 1.0750-1.0775 zone. This is confirmed by the readings of graphic analysis on H4. The existence of negative expectations for the US dollar is also associated with changes in the United States employment rates(NFP), the data for which will be announced on Friday, 7 April. Thus, according to some forecasts, the number of new jobs outside the agricultural sector could diminish from 235K to 175K;


- Whilst the opinions of analysts and technical analysis on the previous pair mostly coincide, their discrepancy is jarring when it comes to GBP/USD: more than 90% of indicators point to the growth of the pair, whilst over 80% of experts continue to insist on its fall. The trends for this pair will most likely be determined by rumours about the terms of the UK’s exit from the EU for a quite some time. The support levels for next week are 1.2375, 1.2200 and 1.2110, whilst the resistance levels are 1.2675 and 1.2725;


- Predicting the future of USD/JPY, both trend indicators and oscillators alongside with graphical analysis on D1 point to the pair’s lateral movement in the 110.10-112.75 channel. Analysts, however, display a steady rise in bullishness amongst their ranks: at the time of writing the forecast the proportion of bull supporters has already exceeded 70%. 113.55 and 115.20 are named as the main targets;


- Supporters of the growth of USD/CHF now also exceed 70% of analysts: they name 1.0100 as the short-term target, with the next one being 1.0170. As for graphical analysis, its readings on H4 show that the nearest support level is 0.9980, followed by 0.9950, and that the week’s bottom-point is in the 0.9920 area.


Roman Butko, NordFX


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


#forex #forex_forecast #eurusd #signals_forex #binary_options

 
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