GENERALIZED FOREX FORECAST FOR 29 DECEMBER 2014 – 02 JANUARY 2015

It is clear that the winter holidays are leaving their mark on trading results, but we will still try to generalize the opinions of 35 analysts from world leading banks and broker companies collected in a table as well as forecasts based on different methods of technical and graphical analysis.

- 1.2200 is a quite strong level for the EUR/USD pair along which, most probably, the pair will be moving in the near future. Along with this the pair, as before, will display a tendency to decrease, although in the beginning of the week a temporary rebound upwards to the level of 1.2250 is possible;

- opinions regarding the future of the 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 USD/JPY pair, most probably, will continue moving towards yet another height – this time it will be the 121.00 mark. The support level for this pair will be 118.90;

 - and, finally, the last pair in our review – USD/CHF, which, with a high probability, will continue striving to the signature level of 1.0000, after which a fairly serious rollback might follow.

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As for last week’s forecast:

- the EUR/USD pair was predicted fluctuations around the line of 1.2270÷1.2280 and striving downwards with the target being to break through the level of 1.2200, which is what actually happened: having risen early in the week to the 1.2270 mark, the pair went downwards and finished the session at the level of 1.2180;

- regarding the GBP/USD pair the forecast also turned out to be correct – the pair decreased to the predicted level of 1.5530, broke through it on Wednesday and then returned to the “set” values, finishing at the level of 1.5553;

- for the USD/JPY pair we predicted an assault of the 120.00 height. The pair successfully completed the set task – this height had already been reached by the middle of the week;

- but the USD/CHF pair, instead of a sideways trend along the level of 0.9800, pushed off it and grew slightly, reaching the level of 0.9870.

 Roman Butko, NordFX & Sergey Ershov