Forex Forecast And Cryptocurrencies Forecast For September 03-07, 2018

First, a review of last week’s events:

EUR/USD

As expected, the week was full of multidirectional economic news, which caused first growth, and then the fall of this pair. Recall that 45% of experts, relying on the problems in the US-Chinese negotiations and the contradictions between the US president and the head of the Fed, predicted a further weakening of the dollar and the growth of the pair to the height of 1.1750. As a result, the pair reached the high at 1.1735.

Weak statistics from the eurozone supported those 35% of analysts who had talked about strengthening the dollar. As a result, those 25% of experts proved to be completely right, who could not decide on the direction of the main trend, because, after the week’s fluctuations, the pair eventually returned to the values of a week ago and completed the five-day period at 1.1600.

If we look at the charts D1 and W1, it is clear that after the August peak and fall to 1.1300 the pair has once again entered the side channel 1.1575-1.1750, where it moved all mid-summer.

GBP/USD 

Problems related to Brexit continue to scare off foreign investors. The data published on Thursday, August 30 indicate that they continue to actively get rid of British assets. The selloff of government bonds has reached its peak since 1982. – £ 17.2 billion. Despite this, the pound managed not only to hold positions, but even to win back about 200 points against the dollar after the EU negotiator Michel Barnier announced on Wednesday that he was ready to make the Brits a unique trade proposal. However, Mr. Barnier played back a little later, saying that he did not rule out the hard version of Brexit, as a result of which the pair met the end of the week session at the level of 1.2960.

USD/JPY 

Recall that most experts (65%) predicted the growth of the pair, indicating a target level of 112.00. The fact that the pair is overbought which was signaled by 20% of the oscillators, could limit this growth and turn the trend around. The level 110.75 was called as the nearest support.