Are you Professional Trader ?
Show and try you skill on NordFX.
Are you Beginner Trader ?
Please try and practice your skills on a demo account NordFX first.
Test and train your skills at Demo Contest - "DemoCup" NordFX - 2 weekly contest every stage.
Then look at the Real Account virulence after that
Are you Binary Option Trader ?
Please place your Bet at Binary Option NordFX.
BECOME A NORDFX INTRODUCING BROKER
Do you know potential traders who could benefit from the NordFX platform ( Binary Options ) ?
If so, you can enjoy great benefits from becoming a NordFX IB!
Benefits of becoming a NordFX IB
You will receive:
- Reliable monthly payments from an industry leader.
- Outstanding compensation based on trading volume. way!
- Free Training.
- Support from a Winning Organization.
Contact our Introducing Brokers team today!
Online Forex trading is the best investment for your online business.
Don't miss out the opportunity to earn some tangible profit. Trading with NordFX is simple and effective as it provides a platform for individuals to trade forex, gold, silver and Binary Option.
Open trading account in NordFX and Start Earn money on Forex now!
Open Your Account Now!
Binary Options are referred to as the simplest trading product in the financial sector.
Start trading Binary Options with NordFX will help you to have made investing simple and accessible to all kinds of trader both beginner and professional.
Join the Best Binary Options - NordFX!
Generalized Forex Forecast for 30 May – 3 June 2016
First, a review of last week’s forecast, which may be considered as 100% fulfilled :
- as to the forecast for EUR/USD, the majority of experts and indicators insisted that it should go down at least to the level of 1.1100, which the pair did, wrapping up the week just10 points higher – at the mark of 1.1110;
- as to the medium-term forecast for GBP/USD, technical and graphical analysis concurred and elaborated that the pair would continue moving in an ascending channel, which had started as early as this February. According to this forecast, supported by 65% of experts, the high of 1.1500 is the ultimate target of this pair. Therewith earlier this week, there were doubts as to the way the level of 1.4500 would play out whether as a local support or resistance. Eventually these doubts panned out, during Monday the pair had been fluctuating, at one moment moving above this line, at another – dropping below it, but then on Tuesday it steadily heaved, gaining 300 points and reaching the high of 1.4740 by Thursday;
- making forecast for USD/JPY, both experts and technical analysis expected the pair to move in a sideways channel alongside the pivot point of 109.00. This forecast may be considered as fulfilled – the pair finished the week at the same level it had started from. However its fluctuations appeared to be so marginal, that it failed to fall below the abovementioned level of 109.00, which eventually acted as the support for it;
- the forecast for USD/CHF also suggested that the pair would move in a sideways channel with the support within 0.9900 - 0.9920, which proved to be correct. Only on Friday evening, following the speech of the Chair of the Federal Reserve Janet Yellen and finding almost no resistance, the pair could stall just above the said zone and ended the week at the level of 0.9945.
Forecast for the Upcoming Week
Summing up the opinions of several dozen analysts from world leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested :
- as to the future of EUR/USD, 80% of experts and 95% of indicators insist that the pair hasn’t reached the local low in the area of 1.1000yet. Therewith the graphical analysis on D1 points out that before going south, the price may tick up: the first resistance will be at 1.1170, the next one - at 1.1240. When the pair hits its bottom at the level of 1.1000, a mighty upwards bounce may follow, as a result of which it will rise above the mark of 1.1300;
- as to the medium-term acting of GBP/USD, 70% of analysts and indicators on D1 concur and elaborate that the uptrend will continue. The nearest resistance level will be at 1.4800. With this, according to the readings of the graphical analysis on H4, early in the week the pair may go down to the support of 1.4500 and only then it may start moving upwards;
- as to the future of USD/JPY, bullish sentiment predominates among the indicators. Experts’ opinions are split almost equally: 35% vote for the pair’s rise, 35% - for its fall. The remaining 30% predict continuation of its sideways trend, which, according to the readings of the graphical analysis, is the most probable scenario. The first support will be at 109.40, the next support will be at 108.50, the main resistance will be in the area of 111.00;
- as for the last pair of our review - USD/CHF, there is a clear difference of experts’ opinions and the graphical analysis. The former ones (85%), fully backed by indicators, reckon that the pair will make attempts to reach the benchmark level of 1.0000. As to the graphical analysis, it predicts that the pair will rebound downwards and return to the zone of 0.9700, followed by a short-term upward movement to the resistance of 0.9800 and a deeper decline to the support of 0.9500. The graphical analysis allocates between 3 and 4 weeks for implementation of this scenario.
Roman Butko, NordFX
How do you choose your broker?
When choosing a Forex broker, you want to look for :
- Reliability Server and service.
- The Best and Profitable Trading conditions.
- Comfortable trade, allowed any trading strategy and techniques.
- and others.
All of these conditions are already available in NordFX for you.
Open your account and Trading with NordFX.