Generalized Forex Forecast for 11 - 15 July 2016

11 July, 2016

First, a review of last week’s forecast:

– as to EUR/USD, the forecast for this pair may be considered as 100% fulfilled. As a reminder, based on the readings of the graphical analysis a sideways trend within the range of 1.1035–1.1180 was indicated as the main scenario. Indeed, the pair was keeping within 1.1028–1.1185 during the entire week, and even Friday release of NFP data couldn’t drive it out of this channel for long. Eventually the pair wrapped up the week at the level of 1.1050;

– making forecast about the future of GBP/USD, the majority of experts tended to believe that during the month the pair should plunge below the level of 1.3000. In contrast, the week review reckoned that the pair would move in a sideways trend with the pivot point of 1.3300. However the pair couldn’t rise above this level and already during the first half of week hit the monthly target, having moved down to 1.2795, whereafter it changed over to a sideways trend within the range of 1.2870–1.3050;

– predicting the acting of USD/JPY, nearly 70% of analysts, backed by 100% of indicators and the graphical analysis on H4, voted for the pair’s fall to the area of 100.00–101.00, which did happen with 100% accuracy: the area of 100.20 acted as the main support for the pair, 99.98 – as the low of the week;

– USD/CHF – the forecast for this pair reckoned that the pair was highly likely to fluctuate around the pivot point of 0.9800 and tend to return to the landmark level of 1.0000. Eventually, the pair soared on the news from the USA, got to the level of 0.9865, and then rebounded, ending the week at the level of 0.9830.

***

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:

– this time it was easy to sum up opinions of experts and reading of the technical analysis about the future of EUR/USD. 90% of analysts, 100% of indicators and the graphical analysis concur and elaborate that the pair will fall to the low of June 24, the day when the results of Brexit referendum had been announced. Afterwards the pair should transit to a side movement within the range of 1.0900–1.0970. An alternative scenario also provides for a movement in a sideways channel, however a bit more northwards – within the range of 1.0970–1.1050;

– as to the future of GBP/USD, it’s clear that opinions of indicators (70%) are south-oriented. 25% of experts also look southwards. However, according to the majority of analysts, supported by the graphical analysis, after bouncing off the bottom in the area of 1.2860, the pair should upswing, where, having reached the resistance of 1.3370, for some time it should keep within the channel of 1.3100–1.3370, and then it will get back to the support of 1.2860;

– as to the last pair of our review – USD/CHF, the forecast is  practically unchanged - fluctuations around the pivot point of 0.9850 with prevalence of bullish trends. The nearest resistance level will be at 0.9945, target will be at 1.0000.

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. 


Source link  
Generalized Forex Forecast for 29 August - 02 September 2016

First, a review of last week's forecast, which for all four pairs may be considered if not 100%, but at least 90% fulfilled: all three variants of the forecast for EUR/USD, suggested by the experts last week...

Generalized Forex Forecast for 22 - 26 August 2016

First, a review of last week's forecast: the forecast for EUR/USD reckoned that having rebounded from the support of 1.1100, the pair would go up to the resistance of 1.1230, and if it was broken through, the pair could heave upwards by further 100 points up to the level of 1.1330...

Generalized Forex Forecast for 15 - 19 August 2016

First, a review of last week's forecast: the forecast for EUR/USD reckoned that early in the week the pair could tick up to the level of 1.1130, and if it was broken through - it would go up to 1.1170...


Generalized Forex Forecast for 08 - 12 August 2016

First, a review of last week's forecast: as to EUR/USD, the pair met expectations of both those experts supporting its rise to the area of 1.1250 and those predicting that the pair would start going south...

Generalized Forex Forecast for 01 - 05 August 2016

First, a review of last week's forecast:as to EUR/USD one alternative forecast suggested that the pair would move in a sideways channel with the support of 0.9550 and the pivot point of 1.1000...

Generalized Forex Forecast for 25 - 29 July 2016

First, a review of last week's forecast: as to EUR/USD, the majority of experts believed that the pair would continue moving in a sideways channel. This prediction may be deemed as panned out, if we consider the month range of 1.0970 - 1.1180...


Generalized Forex Forecast for 18 - 22 July 2016

As to EUR/USD, the forecast for this pair may be considered only partly fulfilled - the experts reckoned that the pair would move in a sideways channel, but only after its sliding down...

Generalized Forex Forecast for 04 - 08 July 2016

First, a review of last week's forecast: – as to EUR/USD, those 20% of analysts, suggesting the gradual rise of the pair, alike the rise of USD/CHF after the ˜Black Thursday...

Generalized Forex Forecast for 27 June - 1 July 2016

First, a review of last week's forecast: all last week's forecasts were made with the proviso that they would remain in force only before the beginning of the UK referendum...

  


Share: