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, the following can be concluded:
- between the 8th and the 12th of December, the EUR/USD pair will continue falling by approximately 100.0 points to the mark of 1.2200. However, it is not excluded that achieving this goal may take up to two weeks. The level of resistance is expected to be 1.2375;
- GBP/USD expects a sideways trend with an insignificant decrease to the level of approximately 1.5550;
- regarding the USD/JPY pair experts continue to wait for the rebound downwards, although now to the level of 120.80, while at the same time the indicators point strictly upwards to the 122.00 mark. Therefore, most probably, the pair will fluctuate in this range - 120.80÷122.00;
- as for the USD/CHF pair, everyone amicably predicts a rise to the level of April 2013 – 0.9830÷0.9850.
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As for last week’s forecast:
- the EUR/USD pair was predicted with high probability to fall to the mark of 1.2350, which had already happened on Wednesday. The pair spent the rest of the week in a sideways trend, still demonstrating a tendency to decrease;
- the forecast for the GBP/USD pair was a sideways trend in the corridor of 1.5580÷1.5675, subject to sufficient pressure by the “bears”. The forecast was fully confirmed and the pair spent the last day of the week between the marks of 1.5570 and 1.5690;
- the USD/JPY pair was confirming the forecast for the all of the start of the week, aiming for the 119.15 mark. But afterwards, instead of the predicted rebound, a sharp breakthrough upwards occurred and the pair finished at the level of 121.45 on Friday;
- and finally, the USD/CHF pair fully justified our “hopes”, having reached the promised level of 0.9800. The support level of 0.9620 was also predicted correctly – by rebounding from this specific “bottom” did the pair dart upwards.
Roman Butko, NordFX & Sergey Ershov
