First, a review of last week's forecast:
- most experts and graphical analysis insisted that EUR/USD would be moving in a 1.1000-1.1100 sideways corridor. Even the US Federal Reserve's decision on interest rates could not hamper this forecast. After crashing by 160 plus points Wednesday evening, by the end of the week the pair returned to the indicated boundaries and ended the week at around 1.1000.
Forecast for the coming week.
Summarizing opinions of several dozen analysts from leading banks and broker companies as well as forecasts made on the basis of different methods of technical and graphical analysis, the following can be proposed:
- just one (!) analyst predicts that EUR/USD will rise to 1.1200. All the others (the experts, the indicators and graphical analysis) believe the pair will drop to support around 1.0800. With this, according to graphical analysis on H4, the pair will first fall to support at 1.0955, rebound to 1.1055 and only then move downwards hitting the bottom at 1.0600. It won't settle there but rather try to make it to around 1.0800.
- most experts and graphical analysis insisted that EUR/USD would be moving in a 1.1000-1.1100 sideways corridor. Even the US Federal Reserve's decision on interest rates could not hamper this forecast. After crashing by 160 plus points Wednesday evening, by the end of the week the pair returned to the indicated boundaries and ended the week at around 1.1000.
Forecast for the coming week.
Summarizing opinions of several dozen analysts from leading banks and broker companies as well as forecasts made on the basis of different methods of technical and graphical analysis, the following can be proposed:
- just one (!) analyst predicts that EUR/USD will rise to 1.1200. All the others (the experts, the indicators and graphical analysis) believe the pair will drop to support around 1.0800. With this, according to graphical analysis on H4, the pair will first fall to support at 1.0955, rebound to 1.1055 and only then move downwards hitting the bottom at 1.0600. It won't settle there but rather try to make it to around 1.0800.