Forex Forecast for EURUSD, GBPUSD, USDJPY and USDCHF for 11 - 15 September 2017
- EUR/USD. Since the opinions of the analysts were divided equally, we suggested to focus on the readings of the graphical analysis; both H4 and D1 indicated that the upward trend, which began in January, would continue. The target was the height of 1.2150, which the pair nearly missed, having turned around near the level of 1.2100, subsequently rolling down 70 points and finishing the week at 1.2035;
- Graphical analysis turned out to be right concerning the future of GBP/USD. Supported by 45% of analysts and 80% of indicators, it pointed to its growth to 1.3115. However, unlike EUR / USD, which did not reach the stated goal, GBP / USD, on the contrary, exceeded it, having fixed the maximum of the week at 1.3222;
- the US dollar also fell against the Japanese yen. The forecast for the USD/JPY said that the pair would once again try to test the bottom of the mid-term side channel 108.12-114.50. This was exactly what happened. Moreover, the pair tried to break through this support and descended to the level of 107.30. It will be clear in the near future whether this test has been successful or not;
- The forecast for USD/CHF turned out to be absolutely accurate. Here, the majority of analysts (about 60%), graphical analysis and more than half of the oscillators on D1 expected that it would again fall to the August 29 minimum at 0.9426. That's exactly what happened, and on Friday, September 8. the pair reached the local bottom at 0.9420.
As for the forecast for the coming week, summarizing the opinions of analysts from a number of banks and brokerages, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:Roman Butko, NordFX
Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.
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