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Generalized Forex Forecast for 9-13 February 2015

NordFX NordFX
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Generalizing 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, the following can be predicted:

– the EURUSD pair can expect fluctuations around the level of 1.1325 this week while at the beginning of the week it may fall to 1.1185-1.1200, then rise and move to 1.1550;
– a similar scenario is possible for GBP/USD. The pair will be aiming to secure itself around 1.5200 but at the start of the week a short-term fall to 1.5015 is not excluded, with a subsequent rise and transition to the range of 1.5200-1.5400;
USDJPY is very likely to reach 119.00 and advance towards the next target of 120.00, to be followed by a pullback to the support level of 117.00;
– the USDCHF pair is predicted to continue its sideways trend, with prevailing bullish tendencies and a desire to win back its Black Thursday losses. The closest target is 0.9400.

Regarding last week’s forecast:

EURUSD almost fully met our expectations. To recap, the opinions of the analysts were evenly split 3 ways: a third was for a rise, a third – for a fall and a third – for a sideways trend. The EURUSD chart actually shows that all week long the pair was either up or down, finishing at the level where it had started;
– at the start of the week, GBPUSD began to succumb to the predicted bearish pressure but then the strengthened bulls launched the pair way up, which resulted in GBPUSD breaking through the key level of this year – 1.5200;
– the forecast for USDJPY was confirmed 100% – first, the pair was in a sideways trend and then surged upwards on Friday. As a result, on the news from the USA, the pair reached the coveted mark of 119.00;
– there were no surprises with the USDCHF pair either. As predicted, it got to the level of last September and then took a break by going into a sideways trend.

Roman Butko, NordFX

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