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Weekly forex forecast for 21 -Nov-2016

Fundamental analysis:the possibility of the Fed raising rates at its December meeting (December 14) is estimated at 95%. Thus, the situation may be the same as a year ago, when the rate was still elevated at the end of the year.
The unexpected victory of Donald Trump in the US presidential election influenced the growth of inflation in the country, which was a stumbling block for the Fed raising interest rates.
These facts strengthen even more raising dollar against a basket of major currencies, which have begun after the presidential elections.
Next week, on Wednesday, the Fed reports will be published since the last meeting, which will clarify the mood of the regulator and the willingness to raise rates.
For now, a fundamental forecast for EUR/USD is negative.
Technical analysis:it is hard to highlight some level, because volume is spread across the chart. In terms of volumetric analysis, it is necessary to note the presence of volume accumulation at the top of the chart, which increases the likelihood of further price fall.

Wednesday, 23 Nov, 2016 / 8:15

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