Forex Forecast And Cryptocurrencies Forecast For April 22 - 26, 2019

The main positive news of the week, in our opinion, was the message that the World Bank and the International Monetary Fund jointly launched an internal cryptocurrency. So far, only for the educational purposes of their employees. But as they say, the first step is the hardest.

As for our forecast, it came true almost 100%: the standard cryptocurrency stayed in the range of $4,975-5,370, adding about 3.5% over the week. Ethereum (ETH/USD) and Litecoin ((LTC/USD) showed an increase of about 4%, but the growth of Ripple (XRP/USD) was less than 2%. 

As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

EUR/USD

The world economy is moving towards recession, and much in Europe depends on how well EU leaders can withstand the negative trends. It is not only about how the political situation will develop in the EU countries, and not only about how the ECB will behave in an effort to stabilize the economic situation in the euro area, but also about how, for example, the US-China trade negotiations will end and how President Trump will behave after that. Many analysts believe that today, Europe is prepared for the global economic recession and external attacks worse than other economic blocs.

The past week brought the euro back within the 15-week downward channel. And 70% of experts, supported by graphical analysis on H4, believe that the European currency will continue to give up its positions, falling to the zone of the 2019 lows - 1.1175-1.1185. It is only 30% of analysts that hope that the pair will be able to return to 1.1325. At the same time, attention should be paid to the data on the US GDP, which will be published on Friday, April 26. According to forecasts, the GDP growth will be only 1.8%, which is significantly lower than the previous value of 2.2%. If this prediction turns out to be correct, bulls can move the pair to the next target at the height of 1.1420;

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Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is ...

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