GENERALISED FOREX FORECAST FOR 02 – 06 MARCH 2015

1 March 2015, 12:37
Sergey Ershov
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Generalising  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, it can be noted that this week, just like last week, the dominating trend for all four pairs will be the sideways trend:

- and so the corridor of 1.1170÷1.1310 is most probable for the EUR/USD pair, although the indications of technical analysis are still contradictory - a series of indicators point to “bearish” trends, whilst others show the opposite - the striving of the pair upwards to 1.1450÷1.1500;

- the GBP/USD pair is predicted to fall to the level of 1.5000 and then further to 1.4810 during March. But regarding the short term, growth with yet another attempt to break through the strong level of support in the zone of 1.5550 is quite possible;

- for USD/JPY, the target this week remains the same - 120.50. Strong support can be found in the vicinity of 118.50, with the second support being 117.50;

- for the USD/CHF pair the plan is as follows: climbing up, step by step, to 0.9735, and then a sharp rebound downwards to the zone of 0.9375 and further to 0.9280. However, it is important to be aware that the realisation of this scenario may stretch out over several weeks.

***

As for last week’s forecast:

- as predicted, in the first half of the week the EUR/USD pair found itself in a sideways trend, but then on Thursday, due to the news from the USA, it quickly fell downwards, and so it did not fulfil the hopes of many analysts (including ours);

- the GBP/USD pair was also expected to have sideways movement in the range of  1.5340÷1.5500. By the middle of the week, the pair tried to break through the top boundary, reached the 1.5550 mark, but the same information from the New World quickly returned it to the very centre of the corridor specified by us;

- as for the USD/JPY pair, according to our “plan” the pair should have spent the whole week in a sideways trend, demonstrating a stubborn desire to reach a modest target of 120.50, which is what happened, with the single exception that the target turned out to be even more modest – 119.80;

- and finally the USD/CHF pair. Here the forecast of aiming to reach the 0.9555 mark was confirmed by all 100%.

Roman Butko, NordFX & Sergey Ershov


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