Analysis and Opinion »

GENERALIZED FOREX FORECAST FOR 29 DECEMBER 2014 – 2 JANUARY 2015

NordFX NordFX
Share on StockTwits
Published on
www.NordFX.com

With the holidays obviously leaving their mark on trading results, nonetheless we’ll still try to generalize the opinions of 35 analysts from world leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis:
– in the near future EURUSD is most likely to be moving along the level of 1.2200, which is quite a strong level for the pair. Besides, EURUSD will continue with its downward tendency, although at the beginning of the week a temporary rebound upwards to 1.2250 is possible;
– there are contradictory predictions for GBP/USD. pair are rather contradictory. A sideways corridor in the range of 1.5450-1.5575 has been identified while, in the long term, a rebound upwards to the level of 1.5760 is possible;
– the USDJPY pair will most probably continue to move towards yet another height – this time it will be the 121.00 mark. The support level for the pair will be 118.90;
USDCHF will most likely keep trying to reach the landmark level of 1.0000, after which a fairly serious rollback might follow.

As for last week’s forecast:
– the EURUSD pair was predicted to fluctuate around 1.2270-1.2280 and strive downwards trying to break through the level of 1.2200, which is what actually happened. After rising to 1.2270 early in the week, the pair went downwards and finished the session at 1.2180;
– the forecast regarding GBPUSD also turned out to be correct – the pair went down to the predicted level of 1.5530, broke through it on Wednesday and then returned to the setpoint values, finishing at the level of 1.5553;
USDJPY was predicted to be assailing the 120.00 height. The pair completed the task successfully – this level was reached by the middle of the week;
– USD/CHF, instead of following the sideways trend along the level of 0.9800, pushed off it and went up to 0.9870.

Roman Butko, NordFX

Share on StockTwits