First, a few words about the forecast for the previous week:
■ if we talk about the forecast for EUR/USD, it has turned out to be 100% correct. We shall recall that the level of 1.1080 was indicated as the main support and the height of 1.1350 was called as the maximum lift point for the pair. As a result, the pair spent time from Monday to Wednesday, relying on the support zone 1.1060 ÷ 1.1080, and then, on the news from the US, it rushed up, having reached, as expected, a peak at 1.1342;
■ with regard to GBP/USD, the pair, although it finally reached the resistance in the zone 1.4500, which had been mentioned in the forecast, but did so only by demonstrating first a strong decline, breaking through all the expected levels of support and rebounding from the bottom at the level of 1.4052;
■ giving the outlook for USD/JPY, right turned out to be 50% of the experts who spoke about the possible fall of the pair. Which it did, reaching the indicated be them support in the 111.00 area and finishing the week at 111.52;
■ the forecast for USD/CHF talked about going down to 0.9700 support. This is what happened, and the pair even slightly exceeded the plan, and, having fallen 50 points lower to around 0.9650, moved sideways, carefully adhering to the zone specified by experts in the area of 0.9700.
***
Forecast for the coming week:
Summarizing the views of several dozen analysts from leading banks and brokerage firms, as well as the forecasts made based on different methods of technical and graphical analysis, we can say the following:
■ as for the future of EUR/USD, experts' opinions were divided - about 40% of them are for the growth of the pair, the same amount are for its fall, and the remaining 20% indicate a sideways trend. If we talk about indicators, 75% of them on H4 and 100% on D1 point north and graphic analysis on the D1 agree with that, naming as purpose the last August peak in the area of 1.1700. However, before turning to growth, according to the graphical analysis on H4, the pair, having bounced off the resistance 1.1380, may initially fall to the level of 1.1130. As for the longer-term forecasts, the majority of analysts still tend to talk about lowering of the pair in the coming months at least to the level of 1.0500;
■ the future of GBP/USD, according to the views of graphical analysis and 55% of the experts, may look like this: first, a sideways movement in the sideway channel 1.4360 ÷ 1.4650 for several days, followed by a sharp drop to the level of 1.4230. The long-term forecast, supported by 60% of the analysts and graphical analysis on the D1, suggests an even greater fall of the pair in an effort to achieve a minimum of the end of February in the area of 1.3840;
■ USD/JPY. It is clear that the indicators in this case, look to the south, however, as most analysts and graphical analysis on D1 to believe that the pair has almost reached its bottom and will stay for a while in the side channel, moving in the range of 110.00 ÷ 113.00;
■ and the last pair of our review - USD/CHF. 70% of experts and graphical analysis on H4 insist on the growth of the pair to at least 0.9850 resistance with the ultimate goal to move above the key level of 1.0000. Support remains the same - 0.9650.
