Generalising the opinions of 35 analysts from leading work banks and broker firms and forecasts based on the most different methods of technical analysis collected in a table, the following can be said:
- from the 3rd to the 7th of November we can predict for the EUR/USD pair sideways movement with a sliding downwards to the level of 1.2470÷1.2480;
- approximately the same can be said about the GBP/USD pair. The levels of support will be 1.5940 and 1.5880;
- after an impressive growth last Friday the USD/JPY pair is likely to experience a break in its sideways trend;
- USD/CHF will also be in a sideways trend, although in the medium term the pair may rise to the level of 0.9703.
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As for last week’s forecast:
- regarding the EUR/USD pair, the forecast showed a sideways trend with a fall and a growth of 50% by 50%. This is what actually happened – for the first half of the week the pair fell and for the second half it grew.
- the forecast for the GBP/USD pair was confirmed by all 100% - the pair showed a black weekly candle, having fallen from the level of 1.6083 to 1.5940.
- the dollar displayed a steady growth in relation to the Japanese yen, and so fully justified the forecast.
- and finally the USD/CHF pair was predicted a sideways trend with slight growth. Which is what happened.
Roman Butko, NordFX & Sergey Ershov
