2014 was quite bearish for the euro. On the eastern calendar, 2015 is the year of the sheep (or goat). It is well known that the market (other than bulls and bears) are also on the sheep. Does not mean, does this mean that in 2015 the market will be too many sheep, or still "bullish" scenario for this currency pair will replace bearish trend?
Currently available technical information, which we can have it narrowed the corridor prices, starting in 2008, and a fair price in the center of the corridor, in the region of 1.3100. According to the theory of normal distribution, or regression to the mean, we can assume a return to fair prices to mid-2015, well, the end of the year there is the possibility of growth in the area of 1.3500.
This forecast will work well in the absence of strong external stimuli for the euro, and if there are any, and the price will be able to consolidate below 1.2200, the next target will be open 1.17250, but this is (for me personally) seems less likely.
As for the turn, then, timings, time has almost come. It is possible that today's employment report in the US will be a catalyst, if you will be worse than expected. In any case, the strategic goal is selected, and it will be useful for building tactical forecasts. McAuley MAX DMITRIEVSKY
